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Mar 17th, 2017
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  1. Schuetz Company has budgeted production for next year as follows.
  2. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
  3. Production in units 40,000 48,000 64,000 56,000
  4.  
  5. Five pounds of raw materials are required for each unit produced. Raw materials on hand at the start of the year total 5,000 pounds. The raw materials inventory at the end of each quarter should equal 10% of the next quarter's production needs. Budgeted purchases of raw materials in the second quarter would be:
  6.  
  7. 248,000
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