The following are budgeted data: January February March...
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Accounting
The following are budgeted data:
January
February
March
Sales in units
16,800
23,600
19,800
Production in units
19,800
20,800
19,700
One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 20% of the following month's production needs. Purchases of raw materials for February would be budgeted to be:
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