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

All purchases are paid for as follows: 10% in the month of purchase,50% in the following month,and 40% two months after purchase.Calculate budgeted balance of accounts payable at the end of October.
A)$69,120
B)$100,240
C)$31,120
D)$61,840

Question

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

All purchases are paid for as follows: 10% in the month of purchase,50% in the following month,and 40% two months after purchase.Calculate budgeted balance of accounts payable at the end of October.
A)$69,120 
B)$100,240 
C)$31,120 
D)$61,840

Quizplus · Accepted Answer

B)
Budgeted Accounts Payable balance at the end of October:
 11ea8a42_4fa1_a6e3_8b44_213f54027639_TB5024_00

General,Inc.has Prepared the Following Direct Materials Purchases Budget