Question

The following information is from the manufacturing budget and the budgeted financial statements of Fabor Fabrication:
Direct materials inventory, Jan. 1 . . . . . . . . . . . . . . . . . . . . . . . . . $ 68,000
Direct materials inventory, Dec. 31. . . . . . . . . . . . . . . . . . . . . . . . 80,000
Direct materials budgeted for use during the year . . . . . . . . . 255,000
Accounts payable to suppliers of materials, Jan.1. . . . . . . . . . . . . 50,000
Accounts payable to suppliers of materials, Dec. 31 . . . . . . . . . . . 79,000
Compute the budgeted amounts for:
a. Purchases of direct materials during the year.
b. Cash payments during the year to suppliers of materials.



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  • CreatedApril 17, 2014
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