COTB MC Qu. 8-78 (Algo) A company's production budget indicates the... A company's production budget indicates the following production requirements: October, 219,000 units; November 184,000 units, and December 119.000 units. I unit of finished goods requires 6 pounds of raw materials that cost $3.25 per pound. The company maintains raw materials inventory equal to 20% of the next mon production requirements. The company pays for 30% of its raw material purchases in the month of purchase. The remainder is paid the next month. The companye accounts payable balance at the end of November is closest to: Multiple Choice $2.334.150. O $2,277,030 O$2,452.531 $2.542.098.
COTB MC Qu. 8-78 (Algo) A company's production budget indicates the... A company's production budget indicates the following production requirements: October, 219,000 units; November 184,000 units, and December 119.000 units. I unit of finished goods requires 6 pounds of raw materials that cost $3.25 per pound. The company maintains raw materials inventory equal to 20% of the next mon production requirements. The company pays for 30% of its raw material purchases in the month of purchase. The remainder is paid the next month. The companye accounts payable balance at the end of November is closest to: Multiple Choice $2.334.150. O $2,277,030 O$2,452.531 $2.542.098.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:COTB MC Qu. 8-78 (Algo) A company's production budget indicates the...
A company's production budget indicates the following production requirements: October, 219,000 units; November 184,000 units, and December, 119,000 units. Each
unit of finished goods requires 6 pounds of raw materials that cost $3.25 per pound. The company maintains raw materials inventory equal to 20% of the next month's
production requirements. The company pays for 30% of its raw material purchases in the month of purchase. The remainder is paid the next month. The company's
accounts payable balance at the end of November is closest to:
Multiple Choice
$2,334,150.
$2,277,030.
$2,452,531.
$2,542.098.
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