Dean Company’s budgeted production for March is 12,000 units. It requires 5 pounds of materials to...
Dean Company’s budgeted production for March is 12,000 units. It requires 5 pounds of materials to produce one unit. Cost of materials is $7 per pound. The estimated beginning inventory and ending inventory are 7,000 pounds, and 9,000 pounds respectively. Required: Determine the total cost of direct materials to be purchased in March, as calculated in Dean Company‘s direct materials purchases budget.
Homework Answers
| March | |
| Production Unit | 12000 |
| Material needed for per unit | 5 |
| Material needed for production | 60000 |
| Add; Desired ending inventory | 9000 |
| Total material required | 69000 |
| Less: Beginning inventory | -7000 |
| Direct material purchase | 62000 |
| Cost per pound | 7 |
| Direct material purchase cost | 434000 |
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