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What's the answer to the last question? Question Help KS22-10 (similar to) Yandell Company budgeted direct materials purchases of $192,250 in January and $139,520 in
What's the answer to the last question?
Question Help KS22-10 (similar to) Yandell Company budgeted direct materials purchases of $192,250 in January and $139,520 in February. Assume Yandell pays for direct materials purchases 30% in the month of purchase and 70% in the month after purchase. The Accounts Payable balance on January 1 is $70,000. Prepare a schedule of cash payments for purchases for January and February. Round to the nearest dollar. Begin by computing the total cash payments for direct materials for January and February. Then, compute the Accounts Payable balance at February 28. (Round all amounts you enter into the budget to the nearest whole dollar. If an input field is not used in the table leave the input field empty; do not enter a zero.) Cash Payments January February $ 192,250 $ 139,520 Total direct materials purchases January February Cash Payments $ 70,000 57,675 Direct Materials: Accounts Payable balance, January 1 Jan-Jan direct material purchases paid in Jan. Jan-Jan direct material purchases paid in Feb. Feb-Feb direct material purchases paid in Feb. $ 134,575 41,856 127,675 $ 176,431 Total payments for direct materials Accounts Payable balance, February 28 Feb -- Feb. direct material purchases paid in MarStep by Step Solution
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