Question 38 Gomez Company has 2,000 kg of raw materials in its December 31, 2020,...
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Accounting
Question 38
Gomez Company has 2,000 kg of raw materials in its December 31, 2020, ending inventory. Required production for January and February is 5,000 and 6,000 units, respectively. 2 kilograms of raw materials are needed for each unit, and the estimated cost per kilogram is $6. Management wants an ending inventory equal to 25% of next months materials requirements. Prepare the direct materials budget for January.
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