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How much cash should acti expect to pay out for raw material

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Reference no: EM132984280

Acti Manufacturing Corporation is estimating the following raw material purchases for the final four months of the year:

September $ 830,000

October $ 940,000

November $ 860,000

December $ 780,000

At Acti, 40% of raw materials purchases are normally paid for in the month of purchase. The remaining 60% is paid for in the month following the purchase.

Problem 1: How much cash should Acti expect to pay out for raw material purchases during November?

Option 1: $564,000

Option 2: $344,000

Option 3: $438,000

Option 4: $908,000

Reference no: EM132984280

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