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What cash payments expected for finch company in the month

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Reference no: EM132750507

Finch Company began its operations on March 31 of the current year. Finch has the following projected costs:

                                          April                May            June

Manufacturing costs      $156,100       $193,400     $215,600

Insurance expense          830                  830          830

Depreciation expense        2,110              2,110         2,110

Property tax expense          590                  590             590

  • Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month.
  • Insurance expense is $830 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October).
  • Property tax is paid once a year in November.

Problem 1: The cash payments expected for Finch Company in the month of May are

a. $39,025

b. $223,100

c. $145,050

d. $184,075

Reference no: EM132750507

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