![Cjohnston742](/avatars/18962.jpg)
Cjohnston742
27.07.2021 •
Business
Preparing a Direct Materials Purchases Budget Patrick Inc. makes industrial solvents sold in 5-gallon drum containers. Planned production in units for the first 3 months of the coming year is: January 40,000 February 50,000 March 65,000 Each drum requires 6 gallons of chemicals and one plastic drum container. Company policy requires that ending inventories of raw materials for each month be 20% of the next month's production needs. That policy was met for the ending inventory of December in the prior year. The cost of one gallon of chemicals is $2.00. The cost of one drum is $1.60.
Required
1. Calculate the ending inventory of chemicals in gallons for December of the prior year, and for January and February. What is the beginning inventory of chemicals for January? Round your answers to the nearest whole gallon. Ending inventory for December gallons Ending inventory for January gallons Ending inventory for February gallons Beginning inventory for January gallons
2. Prepare a direct material purchases budget for chemicals for the months of January and February. Round Dollar purchases the nearest dollar. Round all the other values to the nearest whole unit. Do not include a multiplication symbol as part of your answer
Solved
Show answers
More tips
- W Work and Career How to behave at an interview? Tips from an HR specialist...
- F Family and Home How to Keep Your Home Warm: Tips and Tricks...
- D Dating, Love, Relationships Does a Person s Character Depend on the Color of Their Eyes?...
- O Other Childhood Fears: What Many of Us Experienced...
- H Health and Medicine Simple and Effective: How to Get Rid of Cracked Heels...
- O Other How to Choose the Best Answer to Your Question on The Grand Question ?...
- L Leisure and Entertainment History of International Women s Day: When Did the Celebration of March 8th Begin?...
- S Style and Beauty Intimate Haircut: The Reasons, Popularity, and Risks...
- A Art and Culture When Will Eurovision 2011 Take Place?...
- S Style and Beauty How to Choose the Perfect Hair Straightener?...
Answers on questions: Business
- B Business Which type of work schedule would likely present the greatest challenge to an employee who wants to plan ahead for activities in their personal life?...
- B Business When the stems of daffodils are cut, a sappy secretion will drip from the cut end; this secretion can harm other flowers in the same bucket or arrangement. to avoid...
- B Business What is your total industry wide sales volume? in dollars? in units?...
- B Business Which of the following techniques might a service or retail organization use to make a location decision? a) transportation method b) traffic counts c) locational...
- B Business The college of business faculty was evenly split; half preferred chalk and blackboards and the other half preferred dry erase markers and whiteboards. reluctantly,...
- B Business An internal network used to connect employees of a company on a single site to enable collaborative tasks and to update work stasus...
- B Business I need help wondering why prepaid expense is an asset on the balance sheet....
- B Business You are on a busy road. what is the first thing you must do to better manage your space?...
- B Business the shop increases its prices for fleece-lined bedding accessories. This strategy is most likely an example of pricing....
- B Business Tom and Cindy Lewis are buying a house with a $300,000 sales price and their LTV will be 80%. They paid $3,600 in discount points. How many total points did they pay...
Ответ: