Finley Corporation is preparing its cash payments budget for next month. The following information pertains to the cash payments:
a. Finley Corporation pays for 50% of its direct materials purchases in the month of purchase and the remainder the following month. Last month's direct material purchases were $78,000, while the company anticipates $88,000 of direct material purchases next month.
b. Direct labor for the upcoming month is budgeted to be $35,000 and will be paid at the end of the upcoming month.
c. Manufacturing overhead is estimated to be 150% of direct labor cost each month and is paid in the month in which it is incurred. This monthly estimate includes $10,000 of depreciation on the plant and equipment.
d. Monthly operating expenses for next month are expected to be $49,000, which includes $2,700 of depreciation on office equipment and $1,700 of bad debt expense. These monthly operating expenses are paid during the month in which they are incurred.
e. Finley Corporation will be making an estimated tax payment of $8,600 next month.
How much cash will be paid out next month?