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Home Q & A Board Other Fields Homework Help Business Accounting
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risssssss risssssss
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6 years ago
Purchases of direct material for May were $114,000, while expected purchases for June and July are $121,000 and $140,000, respectively. All purchases are paid 75% in the month of purchase and 25% the following month. Calculate the budgeted payments for the month of June.
A) $119,250
B) $115,750
C) $121,000
D) $30,250
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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wrote...
#1
6 years ago
 A
Explanation:  A)
Calculation of budgeted payment for the month of June:
Payment for June purchases $90,750
(75%  $121,000)
Payment for May purchases    28,500
(25%  $114,000)
Total budgeted payments$119,250
risssssss Author
wrote...
#2
6 years ago
Electric Light Bulb Correct, thanks!
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