Accounting-Moreno Industries has adopted the following production budget

Moreno Industries has adopted the following production budget for the first 4 months of 2011.Month Units Month UnitsJanuary 10,000 March 5,000February 8,000 April 4,000Each unit requires 3 pounds of raw materials costing per pound. On December 31, 2010, the ending raw materials inventory was 9,000 pounds. Management wants to have a raw materials inventory at the end of the month equal to 30% of next month’s production requirements.Complete the direct materials purchases budget by month for the first quarter.MORENO INDUSTRIESDirect Materials Purchases BudgetFor the Quarter Ending March 31, 2011January February MarchDesired ending direct materialsCost per poundUnits to be producedDirect materials per unitBeginning direct materialsDirect materials per unitUnits to be producedCost per poundDesired ending direct materialsBeginning direct materials ×××Total pounds needed for productionAdd: Cost per poundUnits to be producedDesired ending direct materialsDirect materials per unitBeginning direct materialsTotal materials requiredLess: Units to be producedCost per poundDirect materials per unitDesired ending direct materialsBeginning direct materialsDirect materials purchasesUnits to be producedDirect materials per unitDesired ending direct materialsBeginning direct materialsCost per pound × $× $× $Total cost of direct materials purchases $$$

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