Myers Company is preparing the raw materials ending inventory budget.Which of the following items will Myers not need to complete the budget?
A)Beginning raw materials inventory balance
B)Actual production
C)Direct materials used in the production of new units started during the period
D)Ending raw materials inventory balance

Question

Quizplus · Accepted Answer

Myers will not need actual production to prepare the raw materials ending inventory budget. The raw materials ending inventory budget is based on the direct materials used in the production of new units started during the period and the ending raw materials inventory balance. The beginning raw materials inventory balance may also be needed to complete the budget.

Myers Company Is Preparing the Raw Materials Ending Inventory Budget