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Prepare quarterly direct materials purchases budgets

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Reference no: EM133043742

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

Production Information

1st quarter, 2020 47,700 units

2nd quarter, 2020 43,200 units

3rd quarter, 2020 52,200 units

4th quarter, 2020 40,800 units

1st quarter, 2021 49,300 units

Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $300,510 of raw material on hand at the beginning of the first quarter, 2020. Uli 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 Uli Industrial for 2020.

Reference no: EM133043742

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