Cash Payments Schedule

Fein Company provided the following information relating to cash payments:

a$.$ Fein purchased direct materials on account in the following amounts:

June

$$68,000$

July

$77,000$

August

$73,000$

b$.$ Fein pays $20\%$ of accounts payable in the month of purchase and the remaining $80\%$ in the following month. the remainder paid in the following month.

d$.$ August overhead amounted to $$79,200,$ including $$6,350$ of depreciation. August $31.($Note: Use whole months to compute interest payment.$)$

Required:

Prepare a schedule of cash payments for Fein Company for the month of August. Be sure to enter percentages as whole numbers.

Fein Company

Schedule of Cash Payments

For August