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Four grams of musk oil are required for each bottle of Mink Caress, a popular...

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Accounting

Four grams of musk oil are required for each bottle of Mink Caress, a popular perfume made by a company in western Siberia. The cost of the musk oil is $1.50 per gram. Budgeted quarterly production of Mink Caress is given below for Year 2 and the first quarter of Year 3:
Year 2Year 3FirstSecondThirdFourthFirstBudgeted production, in bottles88,000118,000178,000128,00098,000
The inventory of musk oil at the end of a quarter must equal 20% of the following quarters production needs. A total of 70,400 grams of musk oil will be on hand to start the first quarter of Year 2.
Required:
Prepare a direct materials budget for musk oil, by quarter and in total, for Year 2.

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