The following are budgeted data: 
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.Purchases of raw materials for February would be budgeted to be:
Definitions:
Marginal Benefit Curve
A graphical representation showing how the benefit to consumers changes as the quantity of a good consumed increases.
Society's Welfare
Refers to the overall well-being and quality of life of the people in a community, including factors like health, economic stability, and social relationships.
Marginal Social Benefit
the additional benefit to society as a whole from consuming one more unit of a good or service.
Marginal Social Cost
The additional cost imposed on society as a whole by producing one more unit of a good or service.
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