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Make quarterly direct materials purchase budgets for clinton

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Reference no: EM132960367

Clinton Industrial has estimated that production for the next five quarters will be:

Production Information:

1st quarter, 2020 54,000 units

2nd quarter 2020 48,800 units

3rd quarter 2020 59,200 units

4th quarter 2020 46,400 units

1st quarter 2021 55,600 units

Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $340,200 of the raw material on hand at the beginning of the first quarter, 2020. Clinton desires to have 15% of next quarter's material requirements on hand at the end of each quarter.

Problem 1: Prepare quarterly direct materials purchases budgets for Clinton Industrial for 2020.

Reference no: EM132960367

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