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Monty, Inc. has budgeted direct materials purchases of $425,000 in March and $500,000 in April. The company policy is to pay for 60% of purchases in the month of purchase and the remaining 40% in the next month. Other expenses are paid during the month when incurred. During April, the following items were budgeted: Salaries and wages expense $134,000 Purchase of office equipment 260,000 Selling and administrative expenses 129,000 Depreciation expense 21.000 Compute budgeted cash disbursements for April. Budgeted cash disbursements for April $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer

Monty, Inc. has budgeted direct materials purchases of $425,000 in March and $500,000 in April. The company policy is to pay for 60% of purchases in the month of purchase and the remaining 40% in the next month. Other expenses are paid during the month when incurred. During April, the following items were budgeted: Salaries and wages expense $134,000 Purchase of office equipment 260,000 Selling and administrative expenses 129,000 Depreciation expense 21.000 Compute budgeted cash disbursements for April. Budgeted cash disbursements for April $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Monty, Inc. has budgeted direct materials purchases of $425,000 in March and $500,000 in April. The company policy is to pay for 60% of purchases in the month of purchase and the remaining 40% in the next month. Other expenses are paid during the month when incurred. During April, the following items were budgeted: Salaries and wages expense $134,000 Purchase of office equipment 260,000 Selling and administrative expenses 129,000 Depreciation expense 21.000 Compute budgeted cash disbursements for April. Budgeted cash disbursements for April $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
Transcribed Image Text:Monty, Inc. has budgeted direct materials purchases of $425,000 in March and $500,000 in April. The company policy is to pay for 60% of purchases in the month of purchase and the remaining 40% in the next month. Other expenses are paid during the month when incurred. During April, the following items were budgeted: Salaries and wages expense $134,000 Purchase of office equipment 260,000 Selling and administrative expenses 129,000 Depreciation expense 21.000 Compute budgeted cash disbursements for April. Budgeted cash disbursements for April $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
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