DeWitt Industries has adopted the following production budget for the first 4 mo

Question

DeWitt Industries has adopted the following production budget for the first 4 months of 2017.

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Explanation / Answer

Direct Materials Purchases Budget For the Quarter Ending March 31, 2016 January February March Units to be Produced 10380 8400 5440 Direct Materials Per Unit 3 3 3 Total Pounds Needed for Production 31140 25200 16320 Add: Desired Ending Direct Materials 5040 3264 2580 Total Materials Required 36180 28464 18900 Less: Beginning Direct Materials 6228 5040 3264 Direct Materials Purchases 29952 23424 15636 Cost Per Pound 3 3 3 Total Cost of Direct Materials Purchases 89856 70272 46908

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