Galina,Inc.has prepared the following direct materials purchases budget:

All purchases are paid for as follows: 40% in the month of purchase,50% in the following month,and 10% two months after purchase.Calculate the budgeted balance of accounts payable at the end of October.

Question

Galina,Inc.has prepared the following direct materials purchases budget:

All purchases are paid for as follows: 40% in the month of purchase,50% in the following month,and 10% two months after purchase.Calculate the budgeted balance of accounts payable at the end of October.

Quizplus · Accepted Answer

B)
Budgeted Accounts Payable balance at the end of October:
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Galina,Inc.has Prepared the Following Direct Materials Purchases Budget