The following are budgeted data: JanuaryFebruaryMarchSales in units16,20022,40019,200Production in units19,20020,20018,700 One pound of...
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Accounting
The following are budgeted data:
JanuaryFebruaryMarchSales in units16,20022,40019,200Production in units19,20020,20018,700
One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 20% of the following month's production needs. Purchases of raw materials for February would be budgeted to be:
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