Demir Inc. purchases raw materials on account for use in production. The direct materials purchases budget shows the following expected purchases on account:
April ......................... $374,400
May .......................... 411,200
June .......................... 416,000
Demir typically pays 20 percent on account in the month of billing and 80 percent in the next month.
Required:
1. How much cash is required for payments on account in May?
2. How much cash is expected for payments on account in June?