DeWitt Industries has adopted the following production budget for the first 4 months of 2017....
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Accounting
DeWitt Industries has adopted the following production budget for the first 4 months of 2017.
| Month | Units | Month | Units | |||
| January | 10,100 | March | 5,100 | |||
| February | 8,100 | April | 4,100 |
Each unit requires 3 pounds of raw materials costing $2 per pound. On December 31, 2016, the ending raw materials inventory was 6,060 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next months production requirements. Prepare a direct materials purchases budget by month for the first quarter.
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