Super Drive Is a Computer Hard Drive Manufacturer $£ 520,000$ For December And

Multiple Choice

Super Drive is a computer hard drive manufacturer. The company's balance sheet for the fiscal year ended on November 30 appears below:
Additional information regarding Super Drive's operations appear below:*Sales are budgeted at $£ 520,000$ for December and $£ 500,000$ for the upcoming year.
*Collections are expected to be $60 \%$ in the month of sale and $40 \%$ in the month following sale. There are no bad debts.
*80\% of the disk drive components are purchased in the month prior to the month of the sale, and $20 \%$ are purchased in the month of the sale. Purchased components comprise $40 \%$ of the cost of goods sold.
*Payment for components purchased is made in the month following the purchase.
*Assume that the cost of goods sold is $80 \%$ of sales.
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The balance in accounts payable on the budgeted balance sheet for December 31 should be

A) £161,280.
B) £326,400.
C) £165,120.
D) £403,200.