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Question 71 1. The following information is from the manufacturing budget and budgeted financial statements of Altman Corp.: Direct materials inventory 1/1 $86,000 Direct materials
Question 71
1. The following information is from the manufacturing budget and budgeted financial statements of Altman Corp.:
Direct materials inventory 1/1 | $86,000 |
Direct materials inventory 12/3 | $102,000 |
Direct materials budgeted for use during year | $344,000 |
Accounts payable to suppliers 1/1 | $54,000 |
Accounts payable to suppliers 12/31 | $64,000 |
For the year, budgeted cash payments to suppliers amounted to:
| A. | $344,000 |
| B. | $350,000 |
| C. | $334,000 |
| D. | $354,000 |
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