Exercise 5-25 Maria Bockman, Bates & Hill Fabricators\' accounts payable manager

Question

Exercise 5-25 Maria Bockman, Bates & Hill Fabricators' accounts payable manager, has just received the company's dret matena's puchases budget for the first quarter January February March Quarter Budgeted purchase cost $22,836 $43,846 $38,657 $105,339 The company makes all of its direct 50% in the month following purchase. The company expects to hl" in a matenials purchases on account. Maria's recent review of the company's payment nistory reveaiad that the company pays $i5.300 on Jenuary 1, and this amount represents the remaining payables places, ag. 27s. Enter of its direct materials purchases in the month of purchase materais purchases accounts payable balance of Decembers diret Prepare Shemeld & Hil's cash payments budget for the coming year. (Round answers to de imai answers in necessavy fields only. Leave other flelds blank: Do not enter a) Cash Payments January February March Total Cash Payments January purchases February purchases March purchases Total Prepare Sheffield& Hirs cash payments budget for the finst quarter Accounts Payable balance Click if you would like to Show work for this question: Open Show Wk Question Attempts:0 of S used SAVE POR LATER SUBHIT ANSWER 2

Explanation / Answer

Prepare cash payment budget :

Account payabl balance = (38657-19329) = 19328

January February march Total December A/P 15300 15300 January purchase 11418 11418 22836 February purchase 21923 21923 43846 March purchase 19329 19329 Total 26718 33341 41252 101311

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