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The Jungle Corporation budget calls for the following production:
Q 1 45,000 units
Q 2 38,000 units
Q 3 34,000 units
Q 4 48,000 units
Each unit of product requires three pounds of direct material. The company's policy is to begin each quarter with an inventory of direct materials equal to 30% of that quarter's direct material requirements.
Question 1: Compute budgeted direct materials purchases for the third quarter.
List the penalties imposed on the employer for the Filing Form 941 late, Seven days late making a deposit and Issuing a bad check to the IRS.
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