Question - X Company has the following information from its purchases budget, payroll budget and capital expenditures budget.
Month Inventory Purch. Payroll Budgeted Capital Expenditures Depreciation
Jan $80,000 $40,000 $10,000 $15,000
Feb 100,000 $50,000 $12,000 $15,000
March 70,000 $60,000 14,000 $15,000
The company pays for all of its purchases of inventory in the month following the purchase. It pays 50% of its payroll in the month the wages are earned and 50% in the next month and it pays for all capital expenditures in the month of the purchase.
Compute the total budgeted accounts payable and wages payable on February.