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The following information is from the manufacturing budget and budgeted financial statements of Ulta Corp.: Direct materials inventory, 1/1 $ 95,000 Direct materials inventory, 12/31
The following information is from the manufacturing budget and budgeted financial statements of Ulta Corp.:
Direct materials inventory, 1/1 | $ | 95,000 | |
Direct materials inventory, 12/31 | $ | 111,000 | |
Direct materials budgeted for use during year | $ | 353,000 | |
Accounts payable to suppliers, 1/1 | $ | 63,000 | |
Accounts payable to suppliers, 12/31 | $ | 73,000 | |
1. For the year, budgeted purchases of direct materials amounted to?
2. For the year, budgeted cash payments to suppliers amounted to?
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