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318 of 744 E22-27 Preparing a financial budget-schedule of cash payments Marcel Company has the following projected costs for manufacturing and selling and administrative expenses:
318 of 744 E22-27 Preparing a financial budget-schedule of cash payments Marcel Company has the following projected costs for manufacturing and selling and administrative expenses: January February March $4,800 3,600 550 650 Direct materials purchases Direct labor costs Depreciation on plant Utilities for plant Property taxes on plant Depreciation on office Utilities for office Property taxes on office Office salaries $3,100 $3,500 3,3003,500 550 550 650 650 200 200 550 250 170 170 3,500 3,500 200 550 550 250 250 170 3,500 All costs are paid in month incurred except: direct materials, which are paid in the month following the purchase, utilities, which are paid in the month after incurred; and property taxes, which are prepaid for the year on January 2. The Accounts Payable and Utilities Payable accounts have a zero balance on January 1. Prepare a schedule of cash payments for Marcel for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable or of
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