Maria Bockman, Bates & Hill Fabricators' accounts payable manager, has just received the company's direct materials purchases budget for the first quarter.
| January |
February |
March |
Quarter |
| Budgeted purchase cost |
$16,738 |
$34,250 |
$30,258 |
$81,246 |
The company makes all of its direct materials purchases on account. Maria's recent review of the company's payment history revealed that the company pays for50% of its direct materials purchases in the month of purchase and50% in the month following purchase. The company expects to have an accounts payable balance of $13,500on January 1, and this amount represents the remaining payables from December's direct materials purchases.
Prepare Melinda's cash payments budget for the coming year.(Round answers to 0 decimal places, e.g. 5,275. Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.)