Each unit requires 2 pounds of direct materials, which cost $5 per pound. The companys...
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Accounting
Each unit requires 2 pounds of direct materials, which cost $5 per pound. The companys policy is to maintain direct materials inventory equal to 30% of the next months direct materials requirement. As of June 30, the company has 3,120 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July.
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