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Hello could you help me solve this? Cash Payments Schedule Fein Company provided the following information relating to cash payments a, Fein purchased direct matenals
Hello could you help me solve this?
Cash Payments Schedule Fein Company provided the following information relating to cash payments a, Fein purchased direct matenals on account in the following amounts: June 568,000 July 77,000 August 73,000 Fein Days 20% of accounts payable in the month of purchase and the remaining 80% in the following month c. In July, direct labor cost was $33,000, lagunt direct labor cost is $35,400. The company finds that typically 90% of direct labor cost is paid in canh during the month, with the remainder pold in the following month d. August overhead amounted to $78,200, including $6,350 of depreciation c. Fem had taken out 4 monthloan of $22,000 on May 1 Interest, due with payment of principal accrued at the rate of 9 per year. The loan and at interest were copadon August 31, (Moters te whole months to compote interest payment) Required Prepare a schedule of cash payments for Fein Company for the month of August. Be sure to enter percentages a whole numbers Step by Step Solution
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