Questions:

(e) What are cash payments on account for February?

(f) What is the ending balance in accounts payable in March?

(g) What is the cash balance for the period January-March?

Sales are 40% cash and 60% on account, and 60% of credit sales are collected in the month of the sale. In the month after the sale, 40 of credit sales are collected. It takes 4kg of direct materials to produce a finished unit, and direct materials cost $5 per kg. All direct materials purchases are on account, and are paid as follows: 40% in the month of the purchase and 60% the following month. Ending direct materials inventory for each month is 40% of the next month's production needs. January's beginning materials inventory is 1,060kg. Suppose that both accounts receivable and accounts payable are zero at the beginning of January. (a) Your answer is correct. What are the total cash sales for the January-March quarter? eTextbook and Media Attempts: 1 of 2 used (b) Your answer is correct. What is the accounts receivable balance at the end of March? Your answer is correct. What is the direct materials inventory balance at the end of March? eTextbook and Media d) Your answer is correct. What are the materials purchases costs for February? Material purchases for February eTextbook and Media e) - Your answer is incorrect. What are cash payments on account for February