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10) Mad Dog has the following expenses planned during 1Q 2017. February March April Labor $10,000 $8,000 $10,000 Direct Materials $ 4000 $8,000 $ 6,000

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10) Mad Dog has the following expenses planned during 1Q 2017. February March April Labor $10,000 $8,000 $10,000 Direct Materials $ 4000 $8,000 $ 6,000 Direct Materials are paid for the month after they are purchased. Labor is paid for 50% in the current month, and 50% in the month after the expense is incurred. In addition to the above information, Mad] needs to pay a $5000 income tax liability in April of 2017. Assuming there are no other cash payments what are April's budgeted cash payments? a. $19,000 b. $20,000 c. $21,000 d. $22,000

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