Business, 30.03.2020 21:00, Ryan02717

Ramos Co. provides the following sales forecast and production budget for the next four months:
April May June July
Sales (units) 500 580 530 600
Budgeted production (units) 442 570 544 540

The company plans for finished goods inventory of 160 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 720 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 $8,400 per month.

Prepare a direct materials budget for April, May, and June.

Answers: 3

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Ramos Co. provides the following sales forecast and production budget for the next four months: