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Use the following to answer questions 1&2 Athens Manufacturing Company has budgeted the following raw...

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Accounting

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Use the following to answer questions 1&2 Athens Manufacturing Company has budgeted the following raw material purchases for the last four months of the year September October $850,000 $810,000 $780,000 At Athens, 25% of raw materials purchases are normally paid for in the month of purchase. The remaining 75% is paid for in the month following the purchase. Use the following to answer questions 3 &4: Rome Company will open a new store on January 1. Based on experience from its other retail out Rome is making the following sales projections: Cash Sales Credit Sales $40,000 $50,000 $40,000 $60,000 $40,000 $80,000 January. February... $60,000 $30,000 April. Rome Company estimates that 70% of the credit sales will be collected in the month following t month of sale, and the remaining 30% will be collected in the second month following the month sale

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