Direct Materials Purchases Budget Anticipated sales for Safety Grip Company were 44,000 passenger car tires...
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Direct Materials Purchases Budget Anticipated sales for Safety Grip Company were 44,000 passenger car tires and 13,000 truck tires. Rubber and steel beits are used in producing passenger car and truck tires according to the following table: Passenger Car Truck Rubber 31 lbs, per unit 72 lbs. per unit Steel belts 5 lbs. per unit 13 lbs. per unit The purchase prices of rubber and steel are $3 and $3.9 per pound, respectively. The desired ending inventories of rubber and steel belts are 41,000 and 9,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 48,000 and 7,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 2019. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 2049 Rubber Steel Belts Total Pounds required for production: Passenger tires Truck tires lbs. lbs. Total pounds available lbs. Ibs. lbs. lbs. Total units purchased Unit price Total direct materials to be purchased X $ X $ S $
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