The following information is from the manufacturing budget and the budgeted financial statements of Schenck...
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Accounting
The following information is from the manufacturing budget and the budgeted financial statements of Schenck Development Partners: Direct materials inventory, January 1 Direct materials inventory, December 31 Direct material usage budgeted for the year Accounts payable to suppliers of materials, January 1 Accounts payable to suppliers of materials December 31 68,000 67,000 340,000 50,000 79,000 Required: aCompute the budgeted amount for purchases of direct materials during the year b. Compute the budgeted amount for cash payments during the year to suppliers of materials aBudgeted amount for purchases of direct materials Budgeted cash payments
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