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The following information is from the manufacturing budget and budgeted financial statements of Altman Corp.: Direct materials inventory, 1/1 $91,000 Direct materials inventory, 12/31 $107,000
The following information is from the manufacturing budget and budgeted financial statements of Altman Corp.:
Direct materials inventory, 1/1 $91,000
Direct materials inventory, 12/31 $107,000
Direct materials budgeted for use during year $349,000
Accounts payable to suppliers, 1/1 $59,000
Accounts payable to suppliers, 12/31 $69,000
For the year, budgeted purchases of direct materials amounted to:
- $365,000.
- $375,000.
- $333,000.
- $355,000.
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