Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. abc company's raw materials purchases for june, ju

ABC Company's raw materials purchases for June, July, and August are budgeted at $46,000,$36,000, and...

80.2K

Verified Solution

Question

Accounting

ABC Company's raw materials purchases for June, July, and August are budgeted at $46,000,$36,000, and $61,000, respectively. Based on past experience, ABC expects that 40% of a month's raw material purchases will be paid in the month of purchase and 60% in the month following the purchase.
Required:
Prepare an analysis of cash disbursements from raw materials purchases for ABC Company for August.
\table[[,June,July,August],[Budgeted raw material purchases,,,],[August cash payments:,,,],[Current month's purchases,,,],[Prior month's purchases,,,],[Total cash payments,,,]]
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

please , in your own words write a brief intorduction about credit rating agencies and the...

Finance
Q

On January 1, 2013, an investor purchases 18,000 common shares of an investee at $12 (cash)...

Accounting
Q

Suppose a random variable, x, arises from a binomial experiment. If n = 22, and p...

Statistics
Q

The dataset HairEyesColor in R contains classifications of students by gender, color, and eye color. a) How many...

Basic Math
Q

What are ways that governments are different from households? How do these differences result in needing...

Economics
Q

Prance, Inc., earns pretax book net income of $800,000 in 2018. Prance acquires a depreciable asset...

Accounting
Q

Assuming no employees are subject to ceilings for their earnings Harris Company has the following...

Basic Math
Q

State the conclusion based on the results of the test According to the Federal Housing...

Statistics
Q

ughout the United States. It specializes in helping inesses grow and tackle issues...

Accounting
Q

The sole proprietor of the "Books and Children" bookstore receives all accounting profits...

Accounting
Q

Two college students have come up with the same idea at the same time, and...

Accounting
Q

Prepaid Rent is an expense account that appears on the income statement O True O...

Accounting