Direct materials purchases budget Anticipated sales for Safety Grip Company were 51,000 passenger car...

90.2K

Verified Solution

Question

Accounting

Direct materials purchases budget
Anticipated sales for Safety Grip Company were 51,000 passenger car tires and 15,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows:
\table[[,Passenger Car,Truck],[Rubber,35 lbs. per unit,82 lbs. per unit],[Steel belts,6 lbs. per unit,15 lbs. per unit]]
The purchase prices of rubber and steel are $3.60 and $4.70 per pound, respectively. The desired ending inventories of rubber and steel belts are 48,000 and 10,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 56,000 and 8,000 pounds, respectively.
Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31,20 Y9.
Safety Grip Company
Direct Materials Purchases Budget
For the Year Ending December 31,20 Y9
Line Item Description
Pounds required for production:
Passenger tires
Truck tires
Rubber
Steel Belts
x lbs. Ibs.
Ibs. Ibs.
Total units purchased
Ibs.
Ibs.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students