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[The following information applies to the questions displayed below.]
The following information is from the manufacturing budget and budgeted financial statements of Altman Corp.:
| | |
| Direct materials inventory, 1/1 | $ 83,000 |
| Direct materials inventory, 12/31 | $ 99,000 |
| Direct materials budgeted for use during year | $ 341,000 |
| Accounts payable to suppliers, 1/1 | $ 51,000 |
| Accounts payable to suppliers, 12/31 | $ 61,000 |
| |
For the year, budgeted purchases of direct materials amounted to:
Multiple Choice
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$357,000.
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$325,000.
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$347,000.
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$367,000.
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