Business, 24.10.2019 16:43 Satoetoe24

Luchini corporation makes one product and it provided the following information to prepare the master budget for the next four months of operations: the budgeted selling price per unit is $111. budgeted unit sales for april, may, june, and july are 7,100, 10,100, 13,300, and 14,000 units, respectively. all sales are on credit. regarding credit sales, 40% are collected in the month of the sale and 60% in the following month. the ending finished goods inventory equals 10% of the following month's sales. the ending raw materials inventory equals 30% of the following month’s raw materials production needs. each unit of finished goods requires 5 pounds of raw materials. the raw materials cost $5.00 per pound. regarding raw materials purchases, 40% are paid for in the month of purchase and 60% in the following month. the direct labor wage rate is $18.00 per hour. each unit of finished goods requires 2.9 direct labor-hours. variable manufacturing overhead is $7.00 per direct labor-hour. fixed manufacturing overhead is zero. if 66,850 pounds of raw materials are required for production in june, then the budgeted raw material purchases for may is closest to:

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