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General, Inc. has prepared the following direct materials purchases budget: Month Budgeted DM Purchases June $67,000 July 73,000 August 76,600 September 79,100 October 74,600 All

General, Inc. has prepared the following direct materials purchases budget:

Month

Budgeted DM Purchases

June

$67,000

July

73,000

August

76,600

September

79,100

October

74,600

All purchases are paid for as follows:

40% in the month of purchase, 50% in the following month, and 10% two months after purchase. Calculate budgeted balance of accounts payable at the end of October.

A.$7,910

B.$44,760

C.$52,670

D.$15,370

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