Accounting – Preparing a DM Purchases Budget
In today’s fast-paced academic environment, students often find themselves juggling multiple responsibilities, from attending classes and working part-time jobs to participating in extracurricular activities. The demands of modern education can be overwhelming, leaving students in search of effective solutions to manage their academic workload efficiently. One such solution is the use of Nursingpapertutors.com academic writing website. Nursingpapertutors.com academic writing website employ a cadre of experienced and knowledgeable writers who are well-versed in various academic subjects and writing styles. Nursingpapertutors.com professionals bring a wealth of expertise to the table, enabling them to produce well-researched and well-structured papers that meet the academic standards and expectations of students. Their familiarity with diverse subjects ensures that students can receive assistance across a wide spectrum of disciplines, from mathematics to literature, and from nursing to engineering.
Preparing a Direct Materials Purchases Budget
Patrick Inc. makes industrial solvents sold in five-gallon drums. Planned production in units for the first three months of the coming year is:
January | 40,000 | |||
February | 50,000 | |||
March | 65,000 |
Each drum requires 6 gallons of chemicals and one plastic drum. Company policy requires that ending inventories of raw materials for each month be 20 percent of the next month’s production needs. That policy was met for the ending inventory of December in the prior year. The cost of one gallon of chemicals is $2.00. The cost of one drum is $1.60.
1. Calculate the ending inventory of chemicals in gallons for December of the prior year, and for January and February. What is the beginning inventory of chemicals for January? Round your answers to the nearest whole gallon.
Ending inventory for December: _________________ gallons
Ending inventory for January: _________________ gallons
Ending inventory for February: _________________ gallons
Beginning inventory for January: _________________ gallons
2. Prepare a direct materials purchases budget for chemicals for the months of January and February. Round Gallons per unit to one decimal place. Round Price per gallon to the nearest cent. Round Dollar purchases to the nearest dollar. Round all the other values to the nearest whole unit. Do not include a multiplication symbol as part of your answer.
|
One of the significant challenges students face is time management. The demands of coursework, assignments, and exams can create immense pressure, leading to stress and a potential drop in academic performance. Nursingpapertutors.com academic writing website can be a valuable resource for students seeking to balance their responsibilities effectively. By outsourcing some of their academic tasks, students can free up time to focus on studying, participating in meaningful extracurricular activities, or even addressing personal obligations. This improved time management can alleviate the stress associated with academic overload. The ultimate goal of education is to enhance one’s knowledge and skills. Nursingpapertutors.com academic writing websites can play a vital role in achieving this goal by providing students with well-crafted papers that serve as models for their own work. These papers can offer valuable insights into effective research, organization, and writing, thereby empowering students to improve their academic performance over time.