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Direct Materials Purchases Budget Anticipated sales for Sure Grip Tire Company were 70,000 passenger car...

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Direct Materials Purchases Budget Anticipated sales for Sure Grip Tire 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 according to the following table: Passenger Car Truck Rubber Steel belts The purchase prices of rubber and steel are $2.8 and $3.7 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 28 lbs. per unit 65 lbs. per unit 4 lbs. per unit 10 lbs. per unit Prepare a direct materials purchases budget for Sure Grip Tire Company for the year ended December 31, 2016. When required, enter unit prices to the nearest cent. Sure Grip Tire Company Direct Materials Purchases Budget For the Year Ending December 31, 2016 Rubber Steel Belts Total Pounds required for production Passenger tires bs. bs. Truck tires Total bs. bs. bs. bs. Total units purchased Unit price Total direct materials to be purchased

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