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Question 9 Samson Company prepared the following purchases budget: Month Budgeted Purchases June $35,600 July $42,500...
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $38,000...
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $38,000 $49,000 $38,500 $50,000 $49,900 All purchases are paid for as follows: 20% two months after purchase, 45% in the following month, and 35% in the month of purchase. What are the total cash disbursements in August to account for the purchase of merchandise at Lough Company? O $47,665 $43,050 O $13,475 O $43.125
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases...
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $43,000 $44,000 $38,800 $51,000 $49,100 All purchases are paid for as follows: 5% two months after purchase, 40% in the following month, and 55% in the month of purchase. What are the total cash disbursements in August to account for the purchase of merchandise at Lough Company? O A. $49,345 O B. $21,340 OC. $43,190 OD. $41,090
Goliath Company prepared the following purchases budget: Month Budgeted Purchases June $35,400 July $41,600 August $39,100...
Goliath Company prepared the following purchases budget: Month Budgeted Purchases June $35,400 July $41,600 August $39,100 September $44,100 October $48,900 All purchases are paid for as follows: 35% in the month of purchase, 45% in the following month, and 20% two months after purchase. What are the cash disbursements in October to account for the September purchases at Goliath Company? A. $7,080 B. $8,820 C. $93,000 D. $ 19,845
Lough Company prepared the following purchases budget: Month June Budgeted Purchases $43,000 $45,000 $39,300 $52,000 $48,100...
Lough Company prepared the following purchases budget: Month June Budgeted Purchases $43,000 $45,000 $39,300 $52,000 $48,100 August September October All purchases are paid for as follows: 5% two months after purchase, 40% in the following month, and 55% in the month of purchase What are the cash disbursements in October to account for the September purchases at Lough Company? OA. $52,000 B. $2,600 O c. $20,800 O D. $2,150
Galina, Inc. has prepared the following direct materials purchases budget: Budgeted DM Month Purchases June $68,000 Jul...
Galina, Inc. has prepared the following direct materials purchases budget: Budgeted DM Month Purchases June $68,000 July 79,500 August 78,700 September 76,200 October 73,800 All purchases are paid for as follows: 10% in the month of purchase, 50% in the following month, and 40% two months after purchase. Calculate the budgeted balance of accounts payable at the end of October A. $66,420 O B. $96,900 OC. $30,480 OD. $60,000
Mighty Company has provided the following budgeted purchases: June $500,000 July $650,000 August $420,000 September $300,000...
Mighty Company has provided the following budgeted purchases: June $500,000 July $650,000 August $420,000 September $300,000 October $800,000 The company pays for purchases as follows: Current month 75% One month later (after the purchase) 20% Two months later (after the purchase) 5% What are the budgeted cash disbursements for the month of August?
Purchases and Cash Budgets On July 1, MTC Wholesalers had a cash balance of $262,500 and...
Purchases and Cash Budgets On July 1, MTC Wholesalers had a cash balance of $262,500 and accounts payable of $148,500. Actual sales for May and June, and budgeted sales for July, August, September, and October are: Month Actual Sales Month Budgeted Sales May $225,000 July $ 135,000 June 240,000 August 120,000 September 150,000 October 180,000 All sales are on credit with 75 percent collected during the month of sale, 20 percent collected during the next month, and 5 percent collected...
Purchases and Cash Budgets On July 1, MTC Wholesalers had a cash balance of $175,000 and...
Purchases and Cash Budgets On July 1, MTC Wholesalers had a cash balance of $175,000 and accounts payable of $99,000. Actual sales for May and June, and budgeted sales for July, August, September, and October are: Month Actual Sales Month Budgeted Sales May $150,000 July $ 90,000 June 160,000 August 80,000 September 100,000 October 120,000 All sales are on credit with 75 percent collected during the month of sale, 20 percent collected during the next month, and 5 percent collected...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8 in June,...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8 in June,...
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $38,000 $49,000 $38,500 $50,000 $49,900 All purchases are paid for as follows: 20% two months after purchase, 45% in the following month, and 35% in the month of purchase. What are the total cash disbursements in August to account for the purchase of merchandise at Lough Company? O $47,665 $43,050 O $13,475 O $43.125
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $43,000 $44,000 $38,800 $51,000 $49,100 All purchases are paid for as follows: 5% two months after purchase, 40% in the following month, and 55% in the month of purchase. What are the total cash disbursements in August to account for the purchase of merchandise at Lough Company? O A. $49,345 O B. $21,340 OC. $43,190 OD. $41,090
Lough Company prepared the following purchases budget: Month June Budgeted Purchases $43,000 $45,000 $39,300 $52,000 $48,100 August September October All purchases are paid for as follows: 5% two months after purchase, 40% in the following month, and 55% in the month of purchase What are the cash disbursements in October to account for the September purchases at Lough Company? OA. $52,000 B. $2,600 O c. $20,800 O D. $2,150
Galina, Inc. has prepared the following direct materials purchases budget: Budgeted DM Month Purchases June $68,000 July 79,500 August 78,700 September 76,200 October 73,800 All purchases are paid for as follows: 10% in the month of purchase, 50% in the following month, and 40% two months after purchase. Calculate the budgeted balance of accounts payable at the end of October A. $66,420 O B. $96,900 OC. $30,480 OD. $60,000
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8 in June,...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8 in June,...
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