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Determine cash payments expected for finch company in the month of April Finch Company began its operations on March 31 of the current year. Finch
Determine cash payments expected for finch company in the month of April
Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June $214,400 Manufacturing costs (1) Insurance expense (2) Depreciation expense Property tax expense (3) $155,900 1,060 2,070 490 $195,100 2,060 2.070 1,060 2,070 490 490 (1) of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. (2) Insurance expense is $1,060 a month; however, the insurance is paid four times yearly in the first month of the quarter. (.e., January, April, July, and October). (3) Property tax is paid once a year in November The cash payments expected for Finch Company in the month of April are Oa. $116,925 Ob 5155.900 Oc. 5138,003 Od S120.105 Step by Step Solution
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