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Padi's comany budgeted sales/direct materials purchase is as followed. January was the first month of operations Budgeted Sales January $135,000; February $185,000; March $245,000 Budgeted
Padi's comany budgeted sales/direct materials purchase is as followed. January was the first month of operations
Budgeted Sales January $135,000; February $185,000; March $245,000 Budgeted Direct Materials Purchases: anuary $40,000; February $32,000; March $40,000 Paddu's sales are 30% cash and 70% credit. It collects credit sales 30% in the month of sale, 70% in the month following the sale Paddu's purchases are 30% cash and 70% on account. It pays purchases on account 30% in the month of purchase, and 70% in the month following purchase Prepare a schedule of expected payments for direct materials for January, February and March. (Round answers to o decimal places, e.g. 5,275.) Paddu Company Expected Payments January February March Payments Cash purchases Payment of credit purchases anuary purchases February purchases March purchasesStep by Step Solution
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