Question: 29. Rolling Wheels purchases bicycle components in the month prior to assembling them into bicycles. Assembly is scheduled one month prior to budgeted sales. Rolling

29. Rolling Wheels purchases bicycle components in the month prior to assembling them into bicycles. Assembly is scheduled one month prior to budgeted sales. Rolling pays 75% of component costs in the month of purchase and 25%

of the costs in the following month. Component cost included in budgeted cost of sales are April May June July August

$5,000 $6,000 $7,000 $8,000 $8,000 What is Rolling’s budgeted cash payment for components in May?

a. $5,750

b. $6,750

c. $7,750

d. $8,000

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