20 The following information is from the manufacturing budget and budgeted financial statements of Altman Corporation: Direct materials inventory, 1/1 Direct materials inventory, 12/31 Direct materials budgeted for use during year Accounts payable to suppliers, 1/1 Accounts payable to suppliers, 12/31 $96,000 $112,000 $354,000 $64,000 $74,000 eBook For the year, budgeted cash payments to suppliers amounted to