The Baghdad Corporation has forecast the following sales for the first seven months of the year: January............ February............... March................. 15,000 April.............. 27,000 Monthly material purchases are set equal to 40 percent of forecasted sales for the next month. Of the total material costs, 50 percent are paid in the month of purchase and 50 percent in the following month. Labor costs will run $4,500 per month, and fixed overhead is $4,500 per month. What is amount of payment in the Month of February? ANSWER FORMAT [12345.67] $16,000 14074 Answer: