A company budgeted the following purchases for raw materials: Month January February March April May June...
A company budgeted the following purchases for raw materials: Month January February March April May June July Budget $10,000 $20,000 $25,000 $22,000 $27,000 $30,000 $24,000
The company has a policy of paying for 40% of the purchases in the month of purchase, 35% in the month following the purchase, and 25% in the second month following the purchase.
Based on this information, what are the budgeted cash disbursements for May?
Homework Answers
| Cash disbursement for May: | ||||
| May purchase (27000*40%) | 10800 | |||
| April Purchase (22000*35%) | 7700 | |||
| March Purchase (25000*25%) | 6250 | |||
| Total Cash disbursement | 24750 | |||
| Answer is $ 24750 | ||||
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