This Question: 1 pt 11 of 35 This Test: 40 pts possible Yasmin Company budgeted

Question

This Question: 1 pt 11 of 35 This Test: 40 pts possible Yasmin Company budgeted direct materials purchases of $192, 130 in January and $138,840 in February Assume Yasmin pays for direct matenals purchases 60% ?n the month of purchase and 40% in the month after purchase The Accounts Payable balance on January 1 is S70,000 Prepare a schedule of cash payments for purchases for January and February. Round to the nearest dolar Begin by computing the total cash payments for direct matenals 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 a box is not used in the table leave the box empty, do not enter a zero.) Cash Payments JanuaryFebruary Tolal direct material Enter any number the edit fields and then continue to the next question Save for Later

Explanation / Answer

Answer

A.

Schedule of cash payment for the january month:

B.

Schedule of cash payment for the February month:

Particulars Amount Direct material purchased $192130 Total cash payment Direct material purchased(192130*60%) $115278 Accounts payable $70000 Total cash payment $185278

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