X Company has the following information from its purchases budget, payroll budget and capital expenditures...
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Accounting
X Company has the following information from its purchases budget, payroll budget and capital expenditures budget. Budgeted Month Inventory Purchases Payroll Capital Expenditures Depreciation January $ 80,000 $40,000 $10,000 $15,000 February 100,000 $50,000 $12,000 $15,000 March 70,000 $60,000 $14,000 $15,000 The company pays for all of its purchases of inventory in the month following the purchase. It pays 50% of its payroll in the month the wages are earned and 50% in the next month and it pays for all capital expenditures in the month of the purchase. Compute the budgeted payments for February.
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