A company has budgeted direct materials purchases of $370000 in July and $560000 in August. Past experience indicates that company pays for 70% of its purchases in the month of purchase and the remaining 30% in the next month. All selling and administrative expenses are paid in cash as incurred. During August, the following items were budgeted: Wages Expense $150000 Purchase of office equipment 71000 Selling and Administrative Expenses 46000 Depreciation Expense 30000 Budgeted cash disbursements for August are O $800000. O $503000. $770000. O $724000