Acti Manufacturing Corporation is estimating the following raw material purchases for the final four months...
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Accounting
Acti Manufacturing Corporation is estimating the following raw material purchases for the final four months of the year:
| September | $ | 830,000 |
| October | $ | 940,000 |
| November | $ | 860,000 |
| December | $ | 780,000 |
At Acti, 40% of raw materials purchases are normally paid for in the month of purchase. The remaining 60% is paid for in the month following the purchase.
How much cash should Acti expect to pay out for raw material purchases during November?
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