Direct Materials Purchases Budget

Anticipated sales for Solid Grip Company were 49,000 passenger car tires and 15,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows:

Passenger Car Truck
Rubber 35 lb. per unit 82 lb. per unit
Steel belts 3 lb. per unit 8 lb. per unit
The purchase prices of rubber and steel are $3.40 and $4.50 per pound, respectively. The desired ending inventories of rubber and steel belts are 46,000 and 10,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 54,000 and 8,000 pounds, respectively.

Prepare a direct materials purchases budget for Solid Grip Company for the year ended December 31, 20Y8. When required, enter unit prices to the nearest cent.

Solid Grip Company
Direct Materials Purchases Budget
For the Year Ending December 31, 20Y8
Rubber Steel Belts Total
Pounds required for production:
Passenger tires fill in the blank 1
lb. fill in the blank 2
lb.
Truck tires fill in the blank 3
fill in the blank 4

- Select -
- Select -
Total pounds required fill in the blank 8
lb. fill in the blank 9
lb.

- Select -
- Select -
Total pounds to be purchased fill in the blank 13
lb. fill in the blank 14
lb.
Unit price (per pound) x $fill in the blank 15
x $fill in the blank 16
Total direct materials to be purchased $fill in the blank 17
$fill in the blank 18
$fill in the blank 19