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Use the following Information for the Exercises below. Ramos Co. provides the following sales forecast...

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Accounting

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Use the following Information for the Exercises below. Ramos Co. provides the following sales forecast and production budget for the next four months. Sales (units) Budgeted production (units) April 590 530 May 670 660 June 620 630 July 690 630 The company plans for finished goods inventory of 210 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 795 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.50 hours of direct labor at the rate of $20 per hour. The company budgets variable overhead at the rate of $24 per direct labor hour and budgets fixed overhead of $8,900 per month. Prepare a direct materials budget for April, May, and June. RAMOS CO. Direct Materials Budget For April, May, and June April 530 May Budget production (units) Materials requirements per unit Materials needed for production (lbs.) June 660 630 units 111 lbs. + 1 Total materials requirements (lbs.) 0 0 0 Materials to be purchased (lbs.) Materials price per pound Budgeted cost of direct materials purchases

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