Sherman has budgeted sales for the upcoming quarter as follows: april may june units 1,600 1,900 1,750
1 answer
Question:
Sherman has budgeted sales for the upcoming quarter as follows: april may june units 1,600 1,900 1,750 the desired ending finished goods inventory for each month is one-half of next month's budgeted sales. three pounds of direct material are required for each unit produced. if direct material costs $5 per pound, and must be paid for in the month of purchase, the budgeted direct materials purchases (in dollars) for april are:
Answers
$26,250
Explanation:
Beginning inventory:
= 1/2 × 1,600 × 3 × $5
= 12,000
COGS = 1,600 × 3 × $5
= $24,000
Ending inventory = 1/2 × 1,900 × 3 × $5
= $14,250
Beginning Inventory + purchases - COGS = Ending Inventory
Purchases = Ending Inventory - Beginning Inventory + COGS
= $14,250 - 12,000 + $24,000
= $26,250
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