2. Kelso Company budgeted units to be produced are as follows: 20CY...
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Accounting
2. Kelso Company budgeted units to be produced are as follows:
20CY Units
July 10,000
August 6,000
September 9,000
It takes 3 pounds of direct materials to produce the product. It is the company's policy to maintain an inventory of direct materials on hand at the end of each month equal to 30% of the next month's production needs. Direct materials inventory on hand at June 30 were 9,000 pounds. The cost per pound of materials is $5.
Instructions:
Prepare a direct materials budget for July and August.
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