Homework Answers
Direct material purchases = Direct material inventory, 12/31 + Direct material budgeted for use - Direct material inventory, 1/1
Direct material purchases = $102,000+344,000-86,000 = $360,000
Cash payment to suppliers = Accounts payable to suppliers, 1/1 + Direct material purchases - Accounts payable to suppliers,12/31
Cash payment to suppliers = $54,000+360,000-64,000
Cash payment to suppliers = $350,000
Hence option $350,000 is correct.
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