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A companys direct materials budget shows the following cost of materials to be purchased for...

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Question

Accounting

A companys direct materials budget shows the following cost of materials to be purchased for the coming three months:

January

February

March

Material purchases

$ 14,750

16,145

15,670

Payments for purchases are expected to be made 40% in the month of purchase and 60% in the month following purchase. The December Accounts Payable balance (which relates only to material purchases) is $ 7,435. The budgeted cash payments for materials in February are:

Multiple Choice

  • $ 13,335.

  • $ 11,790.

  • $ 15,308.

  • $ 11,093.

  • $ 15,955.

A companys budgeted production calls for 65,000 pounds in April and 73,000 pounds in May of a key raw material that costs $1.80 per pound. Each month's ending raw materials inventory should equal 25% of the following month's budgeted materials. The April 1 inventory for this material is 18,500 pounds. What are the budgeted materials need in pounds for April?

Multiple Choice

  • 70,750 pounds.

  • 64,750 pounds.

  • 69,000 pounds.

  • 84,650 pounds.

  • 101,250 pounds.

Answer & Explanation Solved by verified expert
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