Question $3,$ P$22-41$A $($similar to$)$

HW Score: $70\mathrm{.}45\%,70\mathrm{.}45$ of $100$ points

Part $2$ of $3$

Points: $7\mathrm{.}9$ of $35$

Vang Company has the following post$-$closing trial balance on

December $31,2016$: $($Click the icon to view the post$-$closing trial balance.$)$

The company's accounting department has gathered the following budgeting information for the first quarter of $2017$:

$($Click the icon to view the budgeting information.$)$

Additional information:

a$.$ Direct materials purchases are paid $70\%$ in the quarter purchased and $30\%$ in the next quarter.

b$.$ Direct labor, manufacturing overhead, selling and administrative costs, and income tax expense are paid in the quarter incurred.

Read the requirements.