Simple Manufacturing Company makes units that each requires 4 pounds of material at $3 per...
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Accounting
Simple Manufacturing Company makes units that each requires 4 pounds of material at $3 per pound. Simple Manufacturing is planning that 400 and 800 units will be built in May and June, respectively. This is a brand new product so there is no beginning inventory. Simple Manufacturing desires to keep material on hand equal to 25% of the next month's production needs. Use this information to determine total cost of May's raw material purchases. Round answer to closest dollar. (no cents)
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