Business, 15.04.2020 23:02 offshoreext

Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months:

January February March
Material purchases $12,040 $14,150 $10,970

Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase.

The December Accounts Payable balance is $6,500. The budgeted cash payments for materials in January are:

Multiple Choice

a.$18,540.

b.$13,095.

c.$6,500.

d.$9,270.

e.$12,520.

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Fortune Company's direct materials budget shows the following cost of materials to be purchased for...

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