accounting-The direct materials purchase budget is prepared after the production budget

QUESTION

The direct materials purchase budget is prepared after the production budget. It estimates the raw material needed to achieve a desired level of production. The required production for the year is 1st quarter 10,461 units; 2nd quarter 10,950 units; 3rd quarter 11,120 units; and 4th quarter 14,295 units. Each unit requires 3 gallons of raw material at a cost of $7.95 per gallon. Management wants to have raw materials ending inventory equal to 20 percent of the next quarter’s materials needed in production. Beginning raw material inventory for the year is 9,342 pounds. Determine the cost of raw material needed for the third quarter.Correct Answer: There is the correct answer need to knwo how to work280,357

ANSWER:

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