Question
Zisk Company purchases direct materials on credit. Budgeted purchases are April, $84,000; May, $114,000; and June, $124,000. Cash payments for purchases are: 75% in the
Zisk Company purchases direct materials on credit. Budgeted purchases are April, $84,000; May, $114,000; and June, $124,000. Cash payments for purchases are: 75% in the month of purchase and 25% in the first month after purchase. Purchases for March are $74,000. Prepare a schedule of cash payments for direct materials for April, May, and June.
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Business Statistics For Contemporary Decision Making
Authors: Ken Black
7th Edition
0470931469, 978-0470931462
