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the following information is from the manufacturing budget and budgeted financial statements of altman corporation: direct materials inventory, 1/1 $ 85,000 direct materials inventory, 12/31 $ 101,000 direct materials budgeted for use during year $ 343,000 accounts payable to suppliers, 1/1 $ 53,000 accounts payable to suppliers, 12/31 $ 63,000 for the year, budgeted purchases of direct materials amounted to: multiple choice $349,000. $359,000. $327,000. $369,000.

Answer

Class, the estimated cost of production, including direct materials, direct labor, and factory overhead, along with projected production volume, is what a manufacturing budget covers for an accounting period. Altman Corporation's manufacturing budget and budgeted financial statements give us the following information: the direct materials inventory on 1st January was $85,000, while on 31st December, it was $101,000. The direct materials budgeted for use during the year was $343,000, while the accounts payable to suppliers on 1st January was $53,000 and $63,000 on 31st December. By using the formula, Budgeted purchases of direct materials during the year = Direct materials inventory, 1/1 + Direct materials budgeted for use during the year - Direct materials inventory, 12/31, we can determine that the budgeted purchases of direct materials for this accounting period is $327,000. However, this option isn't present among the multiple-choice answers. The nearest answer to $327,000 is $349,000, which is the correct option. You can find more about direct materials on brainly.com/question/31141009 #SPJ11.