Zhang industries budgets production of 300 units in june and 310 units in july. each finished unit requires 4 pounds of raw material k, which costs $5 per pound. each month’s ending inventory of raw materials should be 30% of the following month’s budgeted production. the june 1 raw materials inventory has 360 pounds of raw material k. compute budgeted cost of purchases for raw material k for june.

The budgeted cost of purchases for raw material K for June is 1,212 pounds.

Explanation:

Computation of budgeted cost of purchase for raw material is shown below

= Required production + ending raw material inventory - opening raw material inventory

where,

Required production = June units × required units

                                = 300 × 4 pounds

                                = 1,200 pounds

Ending raw material inventory = 30 % of July units × required units

                                                = 30% × 310 units × 4 pounds

                                                = 372 pounds

Opening raw material inventory = 360 pounds

Now, put these values on the above equation

So, raw material purchase = 1,200 + 372 - 360 = 1,212 pound

Thus, the budgeted cost of purchases for raw material K for June is 1,212 pounds.

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