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EX 9-23(Algo) Budgeting Production and Direct-Material Purchases (LO 9-3,9-6) Bodin Company budgets on...

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Accounting

EX 9-23(Algo) Budgeting Production and Direct-Material Purchases (LO 9-3,9-6)
Bodin Company budgets on an annual basis. The following beginning and ending inventory levels (in units) are plannned for the year 20x1. Five units of raw material are required to produce each unit of finished product.
January 1 December 31
Raw material 37,00050,000
Work in process 16,00016,000
Finished goods 87,00063,000
Required:
If Bodin Company plans to sell 454,000 units during the year, compute the number of units the firm would have to manufacture during the year.
If 510,000 finished units were to be manufactured by Bodin Company during the year, determine the amount of raw material to be purchased.
Please demonstrate algebraically how the second question is solved, step by step.

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