Current Attempt in Progress Concord Company has 2,240 pounds of raw materials in its December 31, 2021, ending inventory

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Current Attempt in Progress
Concord Company has 2,240 pounds of raw materialsin its December 31, 2021, ending inventory. Required production forJanuary and February of 2022are 4,480 and 5,600 units, respectively. Twopounds of raw materials are needed for each unit, and the estimatedcost per pound is $6. Management desires an ending inventory equalto 25% of next month’s materials requirements.Prepare the direct materials budget for January.
CONCORD COMPANYDirect Materials Budgetchoose the accounting period For the Quarter Ending January 31,2022January 31, 2022For the Month Ending January 31, 2022
select an opening direct materials budget item Total Cost of Direct Materials PurchasesDirect Labor Time PerUnitBeginning Materials InventoryUnits to be ProducedCost PerPoundTotal Materials RequiredDirect Materials Units to bePurchasedTotal Required Direct Labor HoursTotal Direct LaborCostTotal Pounds Required for ProductionDirect Materials Pounds PerUnitDesired Ending Inventory PoundsDirect Labor Cost Per Hour
enter a number of units
select an item Direct Labor Time Per UnitTotalRequired Direct Labor HoursDirect Materials Pounds PerUnitBeginning Materials InventoryTotal Direct Labor CostDirectMaterials Units to be PurchasedTotal Pounds Required forProductionTotal Cost of Direct Materials PurchasesDesired EndingInventory PoundsTotal Materials RequiredUnits to be ProducedDirectLabor Cost Per HourCost Per Pound
enter a number of pounds
select a summarizing line for the first part Total Cost of Direct Materials PurchasesUnits to beProducedBeginning Materials InventoryTotal Direct Labor CostDirectLabor Time Per UnitCost Per PoundDirect Labor Cost Per HourTotalPounds Required for ProductionTotal Materials RequiredTotalRequired Direct Labor HoursDesired Ending Inventory PoundsDirectMaterials Pounds Per UnitDirect Materials Units to be Purchased
enter a total number of pounds for the first part
select between addition and deduction AddLess: selectan item Total Cost of Direct Materials PurchasesUnits tobe ProducedTotal Materials RequiredDirect Materials Pounds PerUnitDirect Labor Cost Per HourBeginning Materials InventoryTotalDirect Labor CostDirect Labor Time Per UnitTotal Required DirectLabor HoursTotal Pounds Required for ProductionCost PerPoundDesired Ending Inventory PoundsDirect Materials Units to bePurchased
enter a number of pounds
select a summarizing line for the second part Units to be ProducedDirect Labor Time Per UnitTotal DirectLabor CostDesired Ending Inventory PoundsTotal MaterialsRequiredTotal Cost of Direct Materials PurchasesDirect Labor CostPer HourTotal Required Direct Labor HoursCost Per PoundDirectMaterials Pounds Per UnitDirect Materials Units to bePurchasedTotal Pounds Required for ProductionBeginning MaterialsInventory
enter a total number of pounds for the second part
select between addition and deduction AddLess: selectan item Direct Labor Cost Per HourDesired EndingInventory PoundsCost Per PoundDirect Materials Pounds PerUnitDirect Labor Time Per UnitTotal Cost of Direct MaterialsPurchasesTotal Required Direct Labor HoursTotal Pounds Required forProductionBeginning Materials InventoryUnits to be ProducedDirectMaterials Units to be PurchasedTotal Direct Labor CostTotalMaterials Required
enter a number of pounds
select a summarizing line for the third part Direct Materials Units to be PurchasedUnits to beProducedTotal Pounds Required for ProductionTotal MaterialsRequiredTotal Direct Labor CostTotal Required Direct LaborHoursTotal Cost of Direct Materials PurchasesDirect Labor Time PerUnitDesired Ending Inventory PoundsCost Per PoundBeginningMaterials InventoryDirect Materials Pounds Per UnitDirect LaborCost Per Hour
enter a total number of pounds for the third part
select an item Total Cost of Direct MaterialsPurchasesUnits to be ProducedBeginning Materials InventoryTotalDirect Labor CostCost Per PoundDirect Labor Cost Per HourDirectMaterials Pounds Per UnitTotal Pounds Required for ProductionTotalMaterials RequiredDirect Labor Time Per UnitDesired EndingInventory PoundsTotal Required Direct Labor HoursDirect MaterialsUnits to be Purchased
$enter a dollar amount
select a closing direct materials budget item Total Direct Labor CostDirect Labor Time Per UnitUnits to beProducedTotal Required Direct Labor HoursTotal Cost of DirectMaterials PurchasesDirect Materials Pounds Per UnitDirect MaterialsUnits to be PurchasedTotal Materials RequiredDesired EndingInventory PoundsBeginning Materials InventoryCost Per PoundTotalPounds Required for ProductionDirect Labor Cost Per Hour
$enter a total dollar amount