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    Argosy University/ Phoniex University/
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Category > Accounting Posted 18 Aug 2017 My Price 14.00

Langer Company

Direct Materials Purchases Budget

 

Langer Company produces plastic items, including plastic housings for humidifiers. Each housing requires about 15 ounces of plastic costing $0.08 per ounce. Langer molds the plastic into the proper shape. Langer has budgeted production of the housings for the next four months as follows:

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Inventory policy requires that sufficient plastic be in ending monthly inventory to satisfy 20% of the following month's production needs. The inventory of plastic at the beginning of July equals exactly the amount needed to satisfy the inventory policy.

 

Required:

 

  Hide    

Prepare a direct materials purchases budget for July, August, and September, showing purchases in units and in dollars for each month and in total.

Langer Company

Direct Materials Purchases Budget

For July, August, and September
   

July
 

August
 

September
 

Total

Units to be produced
 

  
 

  
 

  
 

  

Direct materials per unit (ounces)
 

  
 

  
 

  
 

  

Production needs
 

  
 

  
 

  
 

  

Desired ending inventory (ounces)
 

  
 

  
 

  
 

  

Total needs
 

  
 

  
 

  
 

  

Less: Beginning inventory
 

  
 

  
 

  
 

  

Direct materials to be purchased (ounces)
 

  
 

  
 

  
 

  

Cost per ounce
 

$ 0.08
 

$ 0.08
 

$ 0.08
 

$ 0.08

Total purchase cost
 

$  
 

$  
 

$  
 

$  

Show transcribed image text Direct Materials Purchases Budget Langer Company produces plastic items, including plastic housings for humidifiers. Each housing requires about 15 ounces of plastic costing $0.08 per ounce. Langer molds the plastic into the proper shape. Langer has budgeted production of the housings for the next four months as follows: Inventory policy requires that sufficient plastic be in ending monthly inventory to satisfy 20% of the following month's production needs. The inventory of plastic at the beginning of July equals exactly the amount needed to satisfy the inventory policy. Required: Hide Prepare a direct materials purchases budget for July, August, and September, showing purchases in units and in dollars for each month and in total. Langer Company Direct Materials Purchases Budget For July, August, and September July August September Total Units to be produced Direct materials per unit (ounces) Production needs Desired ending inventory (ounces) Total needs Less: Beginning inventory Direct materials to be purchased (ounces) Cost per ounce $ 0.08 $ 0.08 $ 0.08 $ 0.08 Total purchase cost $ $ $ $

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 03:08 PM My Price 14.00

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