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Armand Company has the following projected costs for manufacturing and selling and administrative expenses (Click the icon to view the projected costs.) Prepare a
Armand Company has the following projected costs for manufacturing and selling and administrative expenses (Click the icon to view the projected costs.) Prepare a schedule of cash payments for Armand for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31. (Assume the company started operations in January. If an input field is not used in the table leave the input field empty; do not enter a zero) Cash Payments Direct Materials: Accounts Payable balance, January 1 January-Direct material purchases paid in February February-Direct material purchases paid in March Total payments for direct materials Direct Labor: Total payments for direct labor Manufacturing Overhead: Total payments for manufacturing overhead Selling and Administrative Expenses: Total payments for Selling and Admin. expenses Total cash payments Acccount balances, March 31: Prepaid Property Taxes Accounts Payable Utilities Payable January February March Total Data table January February March Direct materials purchases $ 3,300 $ 4,200 $ 4,100 Direct labor costs 2,900 3,600 4,200 Depreciation on plant 400 400 400 Utilities for plant 650 650 650 Property taxes on plant 250 250 250 Depreciation on office 150 150 150 Utilities for office 630 630 630 Property taxes on office 170 170 170 Office salaries 2,500 2,500 2,500 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. -
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