Swifty, Inc. produces pellets for cornhole bags from plastic resin which it sells by the pound. Swifty has estimated pro

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Swifty, Inc. produces pellets for cornhole bags from plastic
resin which it sells by the pound. Swifty has estimated
production and sales of pellets in pounds for the next 2 months
as:
May
June
Estimated production
42,500
49,000
Estimated sales
53,700
34,500
Each pound of pellets requires 0.30 pounds of resin. The
cost of resin is $5.50 per pound. Swifty wants to
have 20% of the next month's direct materials requirements on
hand at the end of each month.

Prepare a direct materials purchases budget for the month of
May. (Enter negative amounts using either a
negative sign preceding the number e.g. -45 or parentheses e.g.
(45). Round pounds needed per unit and cost per pound to two
decimal palces.)
SWIFTY, INC.
Direct Materials Purchases Budget
Month of May
select an opening direct materials purchases budget
item



Budgeted cost of direct materials
purchasesBudgeted direct materials purchases in poundsEnding direct
materials inventory desiredBeginning direct materials
inventoryTotal pounds of resin needed for productionPounds of resin
needed per pound of pelletsCost per pound of resinEstimated
production in pounds of pellets for May
enter a number of units
select an item



Beginning direct materials
inventoryEnding direct materials inventory desiredTotal pounds of
resin needed for productionCost per pound of resinEstimated
production in pounds of pellets for MayBudgeted direct materials
purchases in poundsBudgeted cost of direct materials
purchasesPounds of resin needed per pound of pellets
enter an amount of pounds rounded to 2 decimal
places
select a summarizing line for the first part




Budgeted cost of direct materials purchasesCost per pound of
resinEnding direct materials inventory desiredBeginning direct
materials inventoryEstimated production in pounds of pellets for
MayPounds of resin needed per pound of pelletsTotal pounds of resin
needed for productionBudgeted direct materials purchases in
pounds
enter a total amount of pounds for the first part
select between addition and deduction



AddLess:
select an item



Total pounds of resin needed for
productionBudgeted direct materials purchases in poundsEnding
direct materials inventory desiredPounds of resin needed per pound
of pelletsCost per pound of resinEstimated production in pounds of
pellets for MayBudgeted cost of direct materials purchasesBeginning
direct materials inventory
enter an amount of pounds
select between addition and deduction



AddLess:
select an item



Pounds of resin needed per pound of
pelletsBudgeted direct materials purchases in poundsBudgeted cost
of direct materials purchasesTotal pounds of resin needed for
productionCost per pound of resinBeginning direct materials
inventoryEnding direct materials inventory desiredEstimated
production in pounds of pellets for May
enter an amount of pounds
select a summarizing line for the second part




Beginning direct materials inventoryPounds of resin needed
per pound of pelletsBudgeted direct materials purchases in
poundsCost per pound of resinBudgeted cost of direct materials
purchasesEstimated production in pounds of pellets for MayTotal
pounds of resin needed for productionEnding direct materials
inventory desired
enter a total amount of pounds for the second part
select an item



Pounds of resin needed per pound of
pelletsEnding direct materials inventory desiredBudgeted direct
materials purchases in poundsBudgeted cost of direct materials
purchasesEstimated production in pounds of pellets for MayCost per
pound of resinTotal pounds of resin needed for productionBeginning
direct materials inventory
$enter a dollar amount rounded to 2 decimal places
select a closing direct materials purchases budget
item



Budgeted direct materials purchases in
poundsEnding direct materials inventory desiredBeginning direct
materials inventoryCost per pound of resinTotal pounds of resin
needed for productionEstimated production in pounds of pellets for
MayPounds of resin needed per pound of pelletsBudgeted cost of
direct materials purchases
$enter a total amount for the direct materials pu