Direct materials purchases budget Anticipated sales for Safety Grip Company were 70,000 passenger car tires...
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Accounting
Direct materials purchases budget
Anticipated sales for Safety Grip Company were 70,000 passenger car tires and 21,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows:
| Line Item Description | Passenger Car | Truck |
|---|---|---|
| Rubber | 29 lbs. per unit | 68 lbs. per unit |
| Steel belts | 4 lbs. per unit | 10 lbs. per unit |
The purchase prices of rubber and steel are $3.10 and $4.10 per pound, respectively. The desired ending inventories of rubber and steel belts are 66,000 and 14,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 77,000 and 11,000 pounds, respectively.
Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9.
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