Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months:
January February March
Material purchases $12,040 $14,150 $10,970
Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts Payable balance is $6,500. The budgeted cash payments for materials in January are:
a. $18,540.
b. $13,095.
c. $6,500.
d. $9,270.
e. $12,520.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: January ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Andrew's company is a bureaucratic organization. Andrew is likely to encounter which of the following conditions? A. Real time decisions B. Cross-functional teams C. Empowerment of first-line employees to better serve customers D.
Answers (1)
Linear programming, simulation and waiting line theory are most closely associated with which era in the historical development of operations management? human relations operations research globalization Internet revolution
Answers (1)
One of the most common mistakes new business owners make is
Answers (1)
You want to travel to Europe to visit relatives when you graduate from college three years from now. The trip is expected to cost a total of $10,000.
Answers (1)
2. Why is the finance department of a company important?
Answers (1)
New Questions in Business
Consider a service company that provides carpet cleaning. Classify the cost of the hourly workers who clean carpets for customers. a. Variable b. Direct
Answers (1)
Work telephone numbers for your coworkers would most likely be found using a. directory assistance b. a company directory c. a yellow pages directory d. none of the above
Answers (1)
During January, time tickets show that the factory labor of $7,000 was used as follows: Job 1 $2,300, Job 2 $1,780, Job 3 $1,570, and general factory use $1,350. Prepare a summary journal entry to record factory labor used.
Answers (1)
One widespread trend under way in business today that will affect the goals of the organization you work for is: Select one: a. social intelligence b. new media adaptations c. an increased focus on ethical and socially responsible behavior d.
Answers (1)
A high-profile consulting company chooses its new entry-level employees from a pool of recent college graduates using a five-step interview process.
Answers (1)