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help me Yordi Company budgeted direct materials purchases of $191,440 in January and $138,950 in February. Assume Yordi pays for direct materials purchases 90% in
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Yordi Company budgeted direct materials purchases of $191,440 in January and $138,950 in February. Assume Yordi pays for direct materials purchases 90% in the month of purchase and 10% in the month after purchase. The Accounts Payable balance on January 1 is $60,000. Prepare a schedule of cash payments for purchases for January and February. Round to the nearest dollar Begin by computing the total cash payments for direct materials for January and February. Then, compute the Accounts Payable balance at February 28. (Round all amounts you enter into the budget to the nearest whole dollar. If a box is not used in the table leave the box empty, do not enter a zero.) Cash Payments January February Total direct materials purchases January February Cash Payments Direct Materials: Payable balance, January1 Jan--Jan. direct material purchases paid in Jan Jan-Jan. direct material purchases paid in Feb -Feb. direct material paid in Feb. Enter any number in the edit fieids and then continue to the next question. MacBo Yordi Company budgeted direct materials purchases of $191,440 in January and $138,950 in February Assume Yordi pays for direct materials purchases 90% in the month of purchase and 10% in the month aft purchase. The Accounts Payable balance on January 1 is $60,000. Prepare a schedule of cash payments t purchases for January and February. Round to the nearest dollar. January February Total direct materials purchases January February Cash Payments Direct Materials: Accounts Payable balance, January 1 Jan.--Jan. direct material purchases paid in Jan Jan.--Jan. direct material purchases paid in Feb. Feb.-Feb. direct material purchases paid in Feb Total payments for direct materials Accounts Payable balance, February 28 Feb-Feb. direct material purchases paid in Mar Enter any number in the edit fields and then continue to the next question. Ma Step by Step Solution
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