Purchases of Direct Material for May Were $115,000,while Expected Purchases

question 69

Multiple Choice

Purchases of direct material for May were $115,000,while expected purchases for June and July are $121,000 and $136,000,respectively.All purchases are paid 25% in the month of purchase and 75% the following month.Calculate the budgeted payments for the month of June.

• A)$116,500
• B)$119,500
• C)$121,000
• D)$90,750

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Definitions:

Matrimonial Property

Assets and properties acquired during the course of a marriage that may be subject to division upon divorce.

Divorce

The legal dissolution of a marriage by a court or other competent body.

Sever

To cut off or divide, often used in legal contexts to discuss separating parts of contracts or severing ties between entities.

Estate in Land

Refers to the degree, quantity, nature, and extent of interest a person has in real property.