Respuesta :
Answer:
b) $442,500
Explanation:
Sales at $550,000, all for cash.
Merchandise inventory on November 30 was $300,000.
The cash balance at December 1 was $25,000.
Selling and administrative expenses are budgeted at $60,000 for December and are paid in cash.
Budgeted depreciation for December is $35,000.
The planned merchandise inventory on December 31 is $270,000.
The cost of goods sold is 75% of the sales price.
All purchases are paid for in cash. There is no interest expense or income tax expense. The budgeted cash disbursements for December are:__________.
Beginning Cash Balance....25,000
Sales.................................. ...550,000
Selling and admin...............(60,000)
Purchases* (see below)...(382,500)
Closing Cash balance........132,500
To get purchases we use the formula: Opening stock + Purchases - closing stock = Cost of sales.
Opening stock is given as $300,000
Closing stock is given as $270,000
Cost of Sales is 75% of sales which is 0.75 x 550,000 = $412,500
Therefore purchases = 300,000 + Purchases - 270,000 = 412,500
Purchases = 412,500 - 300,000+270,000 = $382,500
Hence, the budgeted Cash disbursements = Purchases + Selling and Admin; 382,500 + 60,000 = 442,500
The budgeted cash disbursements for December are$382,500.
- The calculation is as follows:
cost of goods sold (75% of 550,000) $412,500
add ending inventory 270000
less beginning inventory -300,000
purchases $382,500
Therefore we can conclude that The budgeted cash disbursements for December are$382,500.
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