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Galina, Inc. has prepared the following direct materials purchases budget: Month Budgeted DM Purchases June $68,000.00 July 75,000 August 79,000 September 77,100 October 70,600 All
Galina, Inc. has prepared the following direct materials purchases budget: Month Budgeted DM Purchases June $68,000.00 July 75,000 August 79,000 September 77,100 October 70,600 All purchases are paid for as follows: 10% in the month of purchase, 40% in the following month, and 50% two months after purchase. Calculate the budgeted balance of accounts payable at the end of October. A. $73,850.00 B. $102,090.00 C. $38,550.00 D. $63,540.00 Galina, Inc. has prepared the following direct materials purchases budget: Month Budgeted DM Purchases June $68,000.00 July 75,000 August 79,000 September 77,100 October 70,600 All purchases are paid for as follows: 10% in the month of purchase, 40% in the following month, and 50% two months after purchase. Calculate the budgeted balance of accounts payable at the end of October. A. $73,850.00 B. $102,090.00 C. $38,550.00 D. $63,540.00
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