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Question

File Edit View History Bookmarks Window Help online.ewc.edu Moodle Ariela Mendoza Fortune Company's direct materials budget showis the following cost of materials to be purchased for te the coming three months: February 14,150 January March Material purchases Payments for purchases are expected to be made 50% in the month of- hase and 50% in the month following purchase. The December Accounts Payable balance is $o,500. The budgeted cash payments for materials in January are: $12,040 10,970 Select on A $9,270. B. $18,540. C. $6,500 o D. $13,095 E. $12,520. O Check

Explanation / Answer

CALUCLATION OF BUDGETED CASH PAYMENTS FOR MATERIALS Particulars January February March Material Purchases $           12,040 $            14,150 $              10,970 Payment will be made as Follows 50 % in the month of Purhase $             6,020 $              7,075 $                5,485 50% in the next month of Purchases $              6,020 $                7,075 Pain in January due against for the month of December $             6,500 $                     -   $                       -   Total Payments made From Jnauary to March = $           12,520 $            13,095 $              12,560 Answer =Option E = $ 12,520

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