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Sheridan Company has 1,824 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are 4,560 and 5,700 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $7. Management desires an ending inventory equal to 20% of next month's materials requirements. Prepare the direct materials budget for January. Units to be Produced Direct Materials Pounds Per Unit Total Pounds Required for Production Add SHERIDAN COMPANY Direct Materials Budget For the Month Ending January 31, 2022 Desired Ending Inventory Pounds Total Materials Required Less : Beginning Materials Inventory Direct Materials Units to be Purchased Cost Per Pound Total Cost of Direct Materials Purchases $ CA $ LA 4560 2 9120 1824 i 7

Sheridan Company has 1,824 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are 4,560 and 5,700 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $7. Management desires an ending inventory equal to 20% of next month's materials requirements. Prepare the direct materials budget for January. Units to be Produced Direct Materials Pounds Per Unit Total Pounds Required for Production Add SHERIDAN COMPANY Direct Materials Budget For the Month Ending January 31, 2022 Desired Ending Inventory Pounds Total Materials Required Less : Beginning Materials Inventory Direct Materials Units to be Purchased Cost Per Pound Total Cost of Direct Materials Purchases $ CA $ LA 4560 2 9120 1824 i 7

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 15E: Palmgren Company produces consumer products. The sales budget for four months of the year is...
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Sheridan Company has 1,824 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are 4,560 and 5,700 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $7. Management desires an ending inventory equal to 20% of next month's materials requirements. Prepare the direct materials budget for January. Units to be Produced Direct Materials Pounds Per Unit Total Pounds Required for Production Add SHERIDAN COMPANY Direct Materials Budget For the Month Ending January 31, 2022 Total Materials Required Less : Desired Ending Inventory Pounds Beginning Materials Inventory Direct Materials Units to be Purchased Cost Per Pound Total Cost of Direct Materials Purchases > $ CA $ LA 4560 2 9120 1824 ww 7
Transcribed Image Text:Sheridan Company has 1,824 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are 4,560 and 5,700 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $7. Management desires an ending inventory equal to 20% of next month's materials requirements. Prepare the direct materials budget for January. Units to be Produced Direct Materials Pounds Per Unit Total Pounds Required for Production Add SHERIDAN COMPANY Direct Materials Budget For the Month Ending January 31, 2022 Total Materials Required Less : Desired Ending Inventory Pounds Beginning Materials Inventory Direct Materials Units to be Purchased Cost Per Pound Total Cost of Direct Materials Purchases > $ CA $ LA 4560 2 9120 1824 ww 7
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