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A company has budgeted direct materials purchases of $380000 in July and $540000 in August. Past experience indicates that the company pays for 70% of

A company has budgeted direct materials purchases of $380000 in July and $540000 in August. Past experience indicates that the company pays for 70% of its purchases in the month of purchase and the remaining 30% in the next month. During August, the following items were budgeted:

Wages Expense $170000
Purchase of office equipment 74000
Selling and Administrative Expenses 56000
Depreciation Expense 38000

The budgeted cash disbursements for August are

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