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What budgeted cash payments for purchases are for january

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Reference no: EM132528400

The following information pertains to the January operating budget for Yama Industries.

  1. Budgeted sales for January $209,000 and February $108,000.
  2. Collections for sales are 50% in the month of sale and 50% the next month.
  3. Gross margin is 30% of sales.
  4. Administrative costs are $13,000 each month.
  5. Beginning accounts receivable is $28,000.
  6. Beginning inventory is $16,000.
  7. Beginning accounts payable is $70,000. (All from inventory purchases.)
  8. Purchases are paid in full the following month.
  9. Desired ending inventory is 20% of next month's cost of goods sold (COGS).

Question 1: For January, budgeted cash payments for purchases are

Reference no: EM132528400

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