Zisk Company purchases direct materials on credit. Budgeted purchases are April, $95,000; May, $125,000; and June, $135,000. Cash payments for purchases are: 75% in the month of purchase and 25% in the first month after purchase. Purchases for March are $85,000. Prepare a schedule of cash payments for direct materials for April, May, and June. ZISK COMPANY Schedule of Cash Payments for Direct Materials April May Materials purchases Cash payments for: Total cash payments June
Zisk Company purchases direct materials on credit. Budgeted purchases are April, $95,000; May, $125,000; and June, $135,000. Cash payments for purchases are: 75% in the month of purchase and 25% in the first month after purchase. Purchases for March are $85,000. Prepare a schedule of cash payments for direct materials for April, May, and June. ZISK COMPANY Schedule of Cash Payments for Direct Materials April May Materials purchases Cash payments for: Total cash payments June
Chapter7: Budgeting
Section: Chapter Questions
Problem 12EA: Desiccate purchases direct materials each month. Its payment history shows that 70% is paid in the...
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