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Exercise 07-4 Manufacturing: Direct materials budget LO P1
Zira Co. reports the following production budget for the next four months.
| April | May | June | July | |||||
| Production (units) | 566 | 620 | 598 | 578 | ||||
Each finished unit requires five pounds of raw materials and the company wants to end each month with raw materials inventory equal to 40% of next months production needs. Beginning raw materials inventory for April was 1,132 pounds. Assume direct materials cost $3 per pound. Prepare a direct materials budget for April, May, and June. (Round your intermediate calculations and final answers to the nearest whole dollar amount.)
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