Bonkowski Corporation Makes One Product and Has Provided the Following

question 180

Multiple Choice

Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations:
Credit sales are collected:
30% in the month of the sale
70% in the following month
Raw materials purchases are paid:
30% in the month of purchase
70% in the following month
The ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs.
-If the budgeted cost of raw materials purchases in February is $50,152,then the budgeted accounts payable balance at the end of February is closest to:

• A) $19,971
• B) $50,152
• C) $15,046
• D) $35,106

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Definitions:

Keyboard

A hardware device used to enter typed data and commands into a computer.

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A type of monitor (or display in a smartphone or tablet computer) that accepts input from a user touching the screen.

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Special-purpose computers embedded within electronic devices, meant to control its functions and operations.

Computer Chips

Small electronic circuits used in computers and other devices, containing millions of microscopic transistors, to perform calculations and store data.