Poppy Corporation forecasts purchases of raw materials (in dollars) for the next three month as follows:...
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Poppy Corporation forecasts purchases of raw materials (in dollars) for the next three month as follows: • October $ 1,200,000 • November $ 900,000 ● December $ 1,000,000 Poppy pays 50% of its materials purchases in the month of the sale and 30% in the month following the sale and the remaining 20% in the second month following the sale. Accounts payable on October 1st are $500,000 and will be paid 60% in October and 40% in November. Poppy's budgeted accounts payable as of the end of October is closest to: O $ 800,000 O $1,200,000 O $ 600,000 O $360,000 Poppy Corporation forecasts purchases of raw materials (in dollars) for the next three month as follows: • October $ 1,200,000 • November $ 900,000 ● December $ 1,000,000 Poppy pays 50% of its materials purchases in the month of the sale and 30% in the month following the sale and the remaining 20% in the second month following the sale. Accounts payable on October 1st are $500,000 and will be paid 60% in October and 40% in November. Poppy's budgeted accounts payable as of the end of October is closest to: O $ 800,000 O $1,200,000 O $ 600,000 O $360,000
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Related Book For
Managerial Accounting
ISBN: 978-1259024900
9th canadian edition
Authors: Ray Garrison, Theresa Libby, Alan Webb
Posted Date:
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