Agawa Corporation is preparing its cash payments budget for next month, May. The following information pertains to the cash payments: a. Agawa pays for 55% of its direct materials purchases in the month of purchase and the remainder the following month. April's direct material purchases were $79,500, while the company anticipates $88,000 of direct material purchases in May. b. Direct labor for May is budgeted to be $34,900 and will be paid at the end of that month. c. Manufacturing overhead is estimated to be 140% of direct labor cost each month. All but $11,000 of these costs are paid in the month in which they are incurred. d. Monthly operating expenses for May are expected to be $46,150. All but $3,400 of these operating expenses are paid during the month in which they are incurred. e. Agawa Corporation will be making an estimated tax payment of $7,400 in May. Required: How much cash will be paid out in May?