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Jackson Inc. produces leather handbags. The production budget for the next four months is: July 5,000...

Jackson Inc. produces leather handbags. The production budget for the next four months is: July 5,000 units, August 7,000, September 7,500, October 8,000. Each handbag requires 0.5 square meters of leather. Jackson Inc.'s leather inventory policy is 30% of next month's production needs. On July 1 leather inventory was expected to be 1,000 square meters. What will leather purchases be in August?

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Answer #1

Direct Material Budget

July

August

September

October

Budgeted Production (unis)

5000

7000

7500

8000

Units of Raw material needed per unit (in square meters)

0.5

0.5

0.5

0.5

Units of raw material needed to meet production (in meters)

2500

3500

3750

4000

Budgeted Ending Inventory (In meters)

1050

1125

1200

6000

Total Units of raw material needed (In meters)

3550

4625

4950

10000

Less: Beginning Inventory (In meters)

1000

1050

1125

1200

Units of raw material to be purchased (in meters of leather)

2550

3575

3825

8800

leather purchases be in August =3375 Meters

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