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Current Attempt in Progress Lily Company has 1,760 pounds of raw materials in its December...

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Accounting

Current Attempt in Progress Lily Company has 1,760 pounds of raw materials in its December 31, 2024, ending inventory. Required production for January and February of 2025 are 4,400 and 5,500 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $5. Management desires an ending inventory equal to 20% of next month's materials requirements. Prepare the direct materials budget for January LILY COMPANY Direct Materials Budget
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Current Attempt in Progress Lily Company has 1,760 pounds of raw materials in its December 31,2024, ending inventory. Required production for January and February of 2025 are 4,400 and 5,500 units, respectively Two pounds of row materials sre needed for each unit, and the estimated cost per pound is $. Manogement desires an ending linentory equal to 20% of next mon ths materials requirements

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