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Boone Hobbies, a wholesaler, has a sales budget for next month of $600,000. Cost of units sold is ...

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Boone Hobbies, a wholesaler, has a sales budget for next month of $600,000. Cost of units sold is ...

Boone Hobbies, a wholesaler, has a sales budget for next month of $600,000. Cost of units sold is expected to be 40 percent of sales. All units are paid for in the month following purchase. The beginning inventory of units is $20,000, and an ending amount of $24,000 is desired. Beginning accounts payable is $152,000.

Boone Hobbies should budget cash used to pay accounts payable for the month totalling
A) $244,000.
B) $240,000.
C) $156,000.
D) $152,000.
E) $148,600.

Textbook

Cost Accounting: A Managerial Emphasis, Canadian Edition

Edition: 7^th

Authors: Horngren, Datar, Rajan, Beaubien

Read 2135 times

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