Gradebook ORION Downloadable eTextbook nt Exercise 21-6 (Part Level Submission)

Question

Gradebook ORION Downloadable eTextbook nt Exercise 21-6 (Part Level Submission) On January 1, 2017, the Hardin Company budget committee has reached agreement on the folowing data for the 6 months ending lune 30, 2017, Sales units: Ending raw materials inventory: Ending finished goods First quarter 5,600; second quarter 6,400; third quarter 7,000 inventory: Third-quarter production: 40% of the next quarter's production requirements 25% of the next quarter's expected sales units 7,440 units The ending raw materials and finished at materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. goods inventories at December 31, 2016, follow the same percentage rediationships to production and sales that occur in 2017. 5 pounds of row (a) Your answer is correct. Prepare a production budget by quarters for the 6-month period ended June 30, 2017 soe @ !S9 -- .-

Explanation / Answer

Particulars Quarter 1 2 Units to be produced 5800 6550 Direct Materials per unit 5 5 Total Pounds needed for production 29000 32750 Add: Desired Ending Direct Materials 2620 2976 Total Materials Required 31620 35726 Less: Beginning Direct Materials 2320 2620 Direct Materials Purchased 29300 33106 Cost per pound $4 $4 Total cost of Direct Materials Purchased $117,200 $132,424

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