The Tori Company had budgeted production for the year as follows: ...
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Accounting
The Tori Company had budgeted production for the year as follows:
| Quarter | 1 | 2 | 3 | 4 |
| Production in units | 11,300 | 13,300 | 19,200 | 15,300 |
Five pounds of raw materials are required for each unit produced. Raw materials on hand at the start of the year total 5,300 lbs. The raw materials inventory at the end of each quarter should equal 20% of the next quarter's production needs in materials. Budgeted purchases of raw materials in the third quarter would be:
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