1. If 140,000 pounds of raw materials were available on January 1, 280,000 pounds are wanted for January 31 inventory, and 840,000 pounds are required for January production, how many pounds of raw materials must be purchased in January? ?

2. The expected purchases of direct materials at the reading company are $70,000 in the first quarter and $90,000 in the second quarter. Forty percent of purchases are paid in cash as incurred and the balance is paid in the following quarter. What are the budgeted cash payments for the purchase in the second quarter?

Answer rating: 100% (QA)

1 Budgeted cash payments for purchases in the second quarter can be calculated as follows Total purc... View the full answer