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PROBINM 3(30%) King Company produces multi-purpose wallet. The wallet needs two 15cm2 cloth that cost...

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Accounting

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PROBINM 3(30%) King Company produces multi-purpose wallet. The wallet needs two 15cm2 cloth that cost $1.25 each. King has prepared a production budget for the wallet by quarters for 2020 and for the first quarter of 2021 , as follows: The inventory of the material at the end of a quarter must be equal 10% of the following quarters's production needs. Instruetions Prepare materials budget for the dompet, by quarter and in total for 2020, including the dollar amount of purchases for each quarter and for the year in total, if known beginning inventory for 2020 was 10,000 units

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