Prepare a purchases budget in pounds for july august and

Assignment Help Accounting Basics

Reference no: EM13600207

Lubriderm Corporation has the following budgeted sales for the next six-month period:
Month Unit Sales

June 90,000
July 120,000
August 210,000
September 150,000
October 180,000
November 120,000

There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month.

Five pounds of materials are required for each unit produced. Each pound of material costs $8. Inventory levels for materials are equal to 30% of the needs for the next month. Materials inventory on June 1 was 15,000 pounds.

Required:
a. Prepare production budgets in units for July, August, and September.
b. Prepare a purchases budget in pounds for July, August, and September, and give total purchases in both pounds and dollars for each month.

Reference no: EM13600207

Questions Cloud

Zero interest bearing note jessica jackson corporation : zero interest bearing note jessica jackson corporation acquires machinery from south company in exchange for a 20000

Bond amortization schedules on january 1 2013 joshua : bond amortization schedules on january 1 2013 joshua jackson company issued 12 100000 face value bonds for 103545.91 a

Hooks and franklin are in the process of liquidating their : hooks and franklin are in the process of liquidating their partnership. they share profits and losses in a ratio of 31.

Compare the returns on equity for the companies and find : three companies-aggressive moderate and conservative---have different working capital management policies as implied by

Prepare a purchases budget in pounds for july august and : lubriderm corporation has the following budgeted sales for the next six-month period month unit sales june 90000 july

Explain the difference between the profits obtained from : brilliant accents company manufactures and sells three styles of kitchen faucets brass chrome and white. production

Desmond drury and ty wilkins have decided to form a : desmond drury and ty wilkins have decided to form a partnership. they have agreed that drury is to invest 20000 and

Determine the direct materials price variance assuming that : coffey company maintains a very large direct materials inventory because of critical demands placed upon it for rush

A loan officer states that thousands of dollars can be : a loan officer states that thousands of dollars can be saved by switching to a 15-year mortgage from a 30-year

User Account

All Pages