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Penny Worth Industrial has estimated that production for the next five quarters will be: ...

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Accounting

Penny Worth Industrial has estimated that production for the next five quarters will be:
Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is
$289,170 of raw material on hand at the beginning of the first quarter, 2020. Penny Worth desires to have 15 percent
of next quarter's material requirements on hand at the end of each quarter.
Prepare quarterly direct materials purchases budgets for Penny Worth Industrial for 2020. Please fill out all the way to Q4 and for the year!
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