Question - Bean Manufacturing reported the following information for 2016:
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October
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November
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December
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Budgeted purchases
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$240,000
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$256,000
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$288,000
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Operating expenses are: Salaries, $100,000; Depreciation, $40,000; Rent, $20,000; Utilities, $28,000
Operating expenses are paid during the month incurred.
Accounts payable is used only for inventory acquisitions.
How much is the budgeted amount of cash to be paid for operating expenses in November?