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  3. 1. 2. required information ramos co. provides t

1. 2. Required information Ramos Co. provides the following sales forecast and...

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Accounting

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Required information Ramos Co. provides the following sales forecast and production budget for the next four months April May June July 640 Sales (units) Budgeted production (units) 540 480 620 610 570 580 580 The company plans for finished goods inventory of 160 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 720 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.50 hours of direct labor at the rate of $20 per hour. The company budgets variable overhead at the rate of $24 per direct labor hour and budgets fixed overhead of $8,400 per month. Prepare a direct materials budget for April, May, and June RAMOS CO Direct Materials Budget For April, May, and June April May June Budget production (units) 480 610 580 units Materials needed for production (Ibs.) Total materials requirements (Ibs.) Materials to be purchased (lbs.) Materials price per pound Budgeted cost of direct materials purchases

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