The following information is about a Company Month Sales Purchases Jan. 60,000 30,000 Feb. 80,000 40,000...
The following information is about a Company
Month Sales Purchases
Jan. 60,000 30,000
Feb. 80,000 40,000
Mar. 100,000 60,000
Cash is collected from customers in the following manner:
Month of sale 45%
Month following the sale 60%
40% of purchases are paid for in cash in the month of purchase, and the balance is paid in the following month.
Labor costs are 30% of sales. Other operating costs are 38,000 per month including deprecation of 10,000. Both of these are paid in the month incurred.
How much cash will be disbursed in total in March?
Homework Answers
| Payment for February purchases | 24000 | =40000*60% |
| Payment for March purchases | 24000 | =60000*40% |
| Payment for labor costs | 30000 | =100000*30% |
| Payment for operating costs | 28000 | =38000-10000 |
| Cash disbursed in total in March | 106000 |
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