Use the Information Below to Answer the Following Question(s)

question 77

Multiple Choice

Use the information below to answer the following question(s) .
Blaney Lumber's forecasted sales for April; May; June; and July are $200,000; $230,000; $190,000; and $240,000; respectively. Sales are 60% cash and 40% credit with all accounts receivables collected in the month following the sale. Cost of goods sold is 75% of sales and ending inventory is maintained at $60,000 plus 10% of the following month's cost of goods sold. All inventory purchases are paid 20% in the month of purchase and 80% in the following month.
-What is the balance of accounts payable on the Blaney Lumber's June 30 budgeted balance sheet?

• A) $29,250
• B) $117,000
• C) $146,250
• D) $111,000

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Definitions:

Meaningful Trends

Patterns or shifts in consumer behavior, market dynamics, or societal attitudes that have significant implications for businesses and society.

Large Amount

A significantly high quantity or volume of something, often relative to what is typical or expected.

Recency-Frequency-Monetary Analysis

A marketing analysis tool used to identify a company's best customers by examining how recently and how often they purchased, as well as how much they spent.

Specialty Pizzas

Pizzas that are made with unique or high-quality ingredients and often feature gourmet or unusual toppings.