Milligan Manufacturing Company produces and sells garden tools. The company has developed the following production...
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Accounting
Milligan Manufacturing Company produces and sells garden tools. The company has developed the following production plan for its new electric trimmer.
|
| January | February | March | April |
| Budgeted production (in units) | 4,000 | 4,000 | 5,000 | 6,000 |
Each unit requires three feet of metal tubing. The company wishes to have ending inventory equal to 110% of its next months production needs, plus an additional 100 feet. Januarys beginning inventory meets this requirement. Milligans standard cost per foot is $2.80.
Required
Prepare the 1st quarter direct materials purchases budget for metal tubing.
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