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Prepare quarterly direct materials purchases budgets

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Reference no: EM133013723

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

Production Information

1st quarter, 2020 49,500 units

2nd quarter, 2020 44,800 units

3rd quarter, 2020 54,200 units

4th quarter, 2020 42,400 units

1st quarter, 2021 51,100 units

Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $311,850 of raw material on hand at the beginning of the first quarter, 2020. Marx desires to have 15 percent of next quarter's material requirements on hand at the end of each quarter.

Required - Prepare quarterly direct materials purchases budgets for Marx Industrial for 2020.

Reference no: EM133013723

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