Purchases of direct material for May were $105,000, while expected purchases for June and July are $120,000 and $134,000, respectively
All purchases are paid 75% in the month of purchase and 25% the following month. Calculate the budgeted payments for the month of June.
A) $116,250
B) $108,750
C) $120,000
D) $30,000
A .A)
Calculation of budgeted payment for the month of June:
Payment for June purchases $90,000
(75% x $120,000 )
Payment for May purchases 26,250
(25% x $105,000 )
Total budgeted payments $116,250
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