If 117,200 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July?

Question

04-03-2025
Business

High School

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If 117,200 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July?

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tinagraveiens106 tinagraveiens106 · Answer 1 · 2023-12-10T06:01:58-05:00

The estimated accounts payable balance at the end of July would be 117,200 pounds. To estimate the accounts payable balance at the end of July, we need to consider the time it takes for the raw materials to be processed and delivered.

How to calculate accounts payable balance ?

Let's assume that it takes 30 days for the raw materials to be processed and delivered, and that the production in August begins on August 1st.

Therefore, the raw materials needed to meet production in August would have been ordered and received by the end of July. Since the cost of the raw materials is not given, we cannot calculate the exact accounts payable balance.

However, we can estimate it by assuming that the company pays for the raw materials on credit and has a standard payment period of 30 days.

If we assume that the company pays for the raw materials at the end of the payment period, which would be 30 days after the end of July, then the estimated accounts payable balance at the end of July would be approximately equal to the cost of the raw materials ordered for August production, which is 117,200 pounds.

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