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Having a lot of trouble with budgeting for materials Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $82,000; May, $112,000; and

Having a lot of trouble with budgeting for materials

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Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $82,000; May, $112,000; and June, $122,000. Payments are made as follows: 70 % in the month of purchase and 30 % in the month after purchase. The March 31 balance of accounts payable is $24,000. Prepare a schedule of budgeted cash payments for April, May, and June. April May June Current month purchases 70% Ending accounts payable 30% C S C S 0 Total purchases Zisk Co. Schedule of Cash Payments For April, May, and June April May June Cash payments for Current month purchases Prior month purchases Budgeted cash payments for materials

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