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Prepare quarterly direct materials purchases budgets

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Question - Clinton Industrial has estimated that production for the next five quarters will be:

Production Information

1st quarter, 2017

42,000 units

2nd quarter, 2017

38,000 units

3rd quarter, 2017

45,000 units

4th quarter, 2017

37,000 units

1st quarter, 2018

44,000 units

Finished units of production require 6 pounds of raw material per unit. The raw material cost is $5 per pound. There is $214,200 of raw material on hand at the beginning of the first quarter, 2017. Clinton desires to have 17 percent of next quarter's material requirements on hand at the end of each quarter.

Prepare quarterly direct materials purchases budgets for Clinton Industrial for 2017.

Reference no: EM131572956

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