Prepare direct materials budget for the chips

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Reference no: EM13506186

Texas Products has developed a very powerful electronic calculator. Each calculator requires three small chips that cost $2.00 each and are purchased from an overseas supplier. Texas Products has prepared a production budget for the calculator by quarters for Year 2 and for the first quarter of Year 3, as follows:

Year 2

Year 3


First

Second

Third

Fourth

First

Budgeted productions,






in Calculators

60,000

90,000

150,000

100,000

80,000

The inventory of the chips at the end of a quarter must be equal to 20% of the following quarter's production needs. There will be 36,000 chips on hand to start the first quarter of Year 2.

Required:

Prepare direct materials budget for the chips, by quarter and in total, for Year 2 including the dollar amount of purchases for each quarter and for the year in total.

 

Reference no: EM13506186

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