question 10 points Exercise 23.1 (Algo) Budgeting Purchases and Cash Payments (LO23-4, LO23-5) The following information is from the manufacturing budget and the budgeted financial statements of Schenck Development Partners. Direct materials inventory, January 1 Direct materials inventory, December 31 Direct material usage budgeted for the year Accounts payable to suppliers of materials, January 1 Accounts payable to suppliers of materials, December 31 $ 68,000 110,000 170,000 50,000 79,000 a. Compute the budgeted amount for purchases of direct materials during the year b. Compute the budgeted amount for cash payments during the year to suppliers of materials. Answer is complete but not entirely correct. Me Graw Hill Budgeted amount for purchases of direct materials Budgeted cash payments $ 200,000 171,000 < Prev 4 of 12 Next > 2007 2475