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Delvig [45]
2 years ago
10

Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manu

facturing costs* $157,700 $198,300 $201,000 Insurance expense** 870 870 870 Depreciation expense 1,870 1,870 1,870 Property tax expense*** 520 520 520 *Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $870 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). ***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of May are a.$39,425 b.$148,725 c.$188,150 d.$227,575
Business
1 answer:
ivolga24 [154]2 years ago
5 0

Answer:

c.$188,150

Explanation:

                                          April               May              June

Manufacturing costs* $157,700         $198,300      $201,000

Payment April Costs    $118.275      $39,425

<u>Payment May Costs                         </u><u> 148,725</u><u>           49,575</u>

Cash Payments                                 $ 188,150

None other costs will be paid in the month Of May.

*Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $870 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). ***Property tax is paid once a year in November.

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