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Electro Company budgets production of 660,000 electric panels in the second quarter and 730,000 electric...

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Accounting

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Electro Company budgets production of 660,000 electric panels in the second quarter and 730,000 electric panels in the third quarter. Each panel requires 0.80 pound of direct material at a cost of $2.10 per pound. The company desires to end each quarter with an ending inventory of this material equal to 20% of next quarter's budgeted materials requirements. Beginning inventory of this material is 105,600 pounds. Prepare a direct materials budget for the second quarter

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