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Fedor, Inc. has prepared the following direct materials purchases budget: Month June Budgeted DM Purchases $67,000.00 75,500 EF July August September October 78,400 75,500
Fedor, Inc. has prepared the following direct materials purchases budget: Month June Budgeted DM Purchases $67,000.00 75,500 EF July August September October 78,400 75,500 72,400 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 total budgeted cash payments made in October for purchases. A. $69,110.00 B. $76,350.00 C. $44,990.00 D. $38,600.00 Kuzma Foods, Inc. has budgeted sales for June and July at $680,000.00 and $735,000.00, respectively. Sales are 85% credit, of which 70% is collected in the month of sale and 30% is collected in the following month. What is the budgeted Accounts Receivable balance on July 31? A. $187,425.00 B. $624,750.00 C. $173,400.00 D. $220,500.00 Calder Water Company has budgeted direct materials inventory purchases as follows: October: $345,000.00 November: $370,000.00 December: $450,000.00 Calder pays for 10% of their purchases during the month of purchase, 70% during the month following the purchase, and the remaining 20% two months after the month of purchase. What is the budgeted accounts payable balance on December 31? A. $479,000.00 B. $405,000.00 C. $450,000.00 D. $442,000.00
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