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Compute the budgeted cash payments for materials

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Reference no: EM131873594

Question - Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months:

Material purchases

January $12,040

February 14,150

March 10,970

Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts Payable balance is $6,500. The budgeted cash payments for materials in January are:

A. $6,500.

B. $9,270.

C. $12,520.

D. $13,095.

E. $18,540.

Reference no: EM131873594

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