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QUESTION
One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 20% of the following...
One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 20% of the following month's production needs. At the beginning of Month 1, 3,200 lbs. of materials were on hand. Purchases of raw materials for Month 2 would be budgeted to be:
