Morgan Manufacturing is preparing its cash budget for the second quarter.The inventory manager has provided the following amounts budgeted for materials purchases
$$\begin{array} { | l | r | }
\hline \text { April } & \$ 62,880 \
\hline \text { May } & 44,960 \
\hline \text { June } & 47,360 \
\hline
\end{array}$$ The controller reports that Morgan pays for 20% of its purchases in the month of purchase,60% in the month following purchase,and 20% in the second month after purchase.What are Morgan's budgeted cash payments for purchases in June?

Question

Morgan Manufacturing is preparing its cash budget for the second quarter.The inventory manager has provided the following amounts budgeted for materials purchases
 $$\begin{array} { | l | r | } 
\hline \text { April } & \$ 62,880 \
\hline \text { May } & 44,960 \
\hline \text { June } & 47,360 \
\hline
\end{array}$$ The controller reports that Morgan pays for 20% of its purchases in the month of purchase,60% in the month following purchase,and 20% in the second month after purchase.What are Morgan's budgeted cash payments for purchases in June?

Quizplus · Accepted Answer

The Answer of Morgan Manufacturing is preparing its cash budget for the second quarter.The inventory manager has provided the following amounts budgeted for materials purchases
 $$\begin{array} { | l | r | } 
\hline \text { April } & \$ 62,880 \
\hline \text { May } & 44,960 \
\hline \text { June } & 47,360 \
\hline
\end{array}$$ The controller reports that Morgan pays for 20% of its purchases in the month of purchase,60% in the month following purchase,and 20% in the second month after purchase.What are Morgan's budgeted cash payments for purchases in June?

Morgan Manufacturing Is Preparing Its Cash Budget for the Second