Use the following information to complete Problems below:
Woodstuff Co. manufactures wooden Tables, Chairs, and Bookshelves. Management is preparing the budgets for June, and has accumulated the following information:

-Woodstuff is located near a lumber supply store, and only purchases materials as they are needed in production: they do not carry a materials inventory. The company has an agreement to pay their supplier 60% of the cost of purchases in the period bought, and the remainder in the period following. The Accounts Payable balance at the beginning of June is $160,000.
What is the amount budgeted to be paid in June for direct materials?

Question

Use the following information to complete Problems below:
Woodstuff Co. manufactures wooden Tables, Chairs, and Bookshelves. Management is preparing the budgets for June, and has accumulated the following information:
  
-Woodstuff is located near a lumber supply store, and only purchases materials as they are needed in production: they do not carry a materials inventory. The company has an agreement to pay their supplier 60% of the cost of purchases in the period bought, and the remainder in the period following. The Accounts Payable balance at the beginning of June is $160,000. 
What is the amount budgeted to be paid in June for direct materials?

Quizplus · Accepted Answer

The Answer of Use the following information to complete Problems below:
Woodstuff Co. manufactures wooden Tables, Chairs, and Bookshelves. Management is preparing the budgets for June, and has accumulated the following information:
  
-Woodstuff is located near a lumber supply store, and only purchases materials as they are needed in production: they do not carry a materials inventory. The company has an agreement to pay their supplier 60% of the cost of purchases in the period bought, and the remainder in the period following. The Accounts Payable balance at the beginning of June is $160,000. 
What is the amount budgeted to be paid in June for direct materials?

Use the Following Information to Complete Problems Below