a) Purchase of direct materials budgeted in January amount to: $______________________

b) Cash payments to suppliers budgeted in January amount to: $______________________

QUESTION 2 (TOTAL: 7 MARKS) On January 1 of the current period, Gotham Corporation has direct materi hand of $82,000. f this amount, Gotham owes suppliers $51,000 on account. The company has prepared the following budget estimates for January Direct materials inventory, 1/3 1 Direct materials budgeted for use in January. Accounts payable to suppliers, 1/31 90.000 $309,000 $62,000