The following budgeted information is provided: Month 1 2 3 ...
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Accounting
The following budgeted information is provided:
| Month | 1 | 2 | 3 |
| Sales in units | 25,000 | 30,000 | 28,000 |
| Production in unit | 26,000 | 32,000 | 25,000 |
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. At the beginning of Month 1, there was 4,200 lbs. of materials on hand. Purchases of raw materials for Month 1 would be (in pounds):
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