Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4 Assume a company's sales budget for April and May is 42,000 units and 44,000 units, respectively. Its production budget for the same two months

image text in transcribed

image text in transcribed

4 Assume a company's sales budget for April and May is 42,000 units and 44,000 units, respectively. Its production budget for the same two months is 39,000 units and 40,000 units, respectively. Each unit of finished goods required 4 pounds of raw materials. The company always maintains raw materials inventory equal to 30% of the following months production needs. Also assume the company pays $2.55 per pound of raw material. It always pays for 50% of its raw material purchases in the month of purchase and the remainder in the following month. The accounts payable balance on March 31st is $142,000. What would be the accounts payable balance at the end of April? Multiple Choice $205,430 $200,430 $189,430 Also assume the company pays $2.55 per pound of raw material. It always pays for 50% of its raw material purchases in the month of purchase and the remainder in the following month. The accounts payable balance on March 31st is $142,000. What would be the accounts payable balance at the end of 4 April? Multiple Choice O $205,430 $200,430 O $189,430 $203,930

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Principles

Authors: Howard F. Stettler

3rd Edition

0130521183, 9780130521187

More Books

Students also viewed these Accounting questions

Question

1. What are the pros and cons of diversity for an organisation?

Answered: 1 week ago

Question

1. Explain the concept of diversity and equality in the workplace.

Answered: 1 week ago