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Business, 28.11.2019 03:31 4804341040

Fuqua company's sales budget projects unit sales of part 198z of 10,000 units in january, 12,000 units in february, and 13,000 units in march. each unit of part 198z requires 4 pounds of materials, which cost $2 per pound. fuqua company desires its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 20% of the next month's expected unit sales. these goals were met at december 31, 2016.
the production budget for january and february 2017 follow:
fuqua company
production budget
for the two months ending february 28, 2017
january february
expected units sales 10,000 12,000
add: desired ending finished goods inventory 2,400 2,600
total required units 12,400 14,600
less: beginning finished goods inventory 2,000 2,400
required production units 10,400 12,200
prepare a direct materials budget for january 2017.

fuqua company
direct materials budget
for the month ending january 31, 2017
january
units to be produced 10,400
direct material pounds per unit 4
total pounds needed for production 41,600
add: desired pounds in ending materials inventory
total materials required
less: beginning direct materials
direct materials purchases
cost per pound $2
total cost of direct materials purchased
direct materials budget:
budgets are used by companies for planning purposes and for comparison purposes after to see how their expectations compare to what they actually spent. a direct materials budget is used to predict how much direct materials will need to be purchased and what the predicted cost will be.

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