4 Exercise 23.1 (Algo) Budgeting Purchases and Cash Payments (LO23-4, LO23-5) The following information is from the manufacturing budget and the budgeted financial statements of Schenck Development Partners pints ellooh Direct materials inventory, January 1 Direct saterials inventory, December 31 Direct material usage budgeted for the year Accounts payable to suppliers of materials, January 1 Accounts payable to suppliers of materials, December 31 Trini $ 60,000 27,000 170,000 50.000 79,000 a. Compute the budgeted amount for purchases of direct materials during the year. b. Compute the budgeted amount for cash payments during the year to suppliers of materials a Budgeted amount for purchases of direct materials b Budgeted cash payments