direct labor cost 38,880 manufacturing overhead costs: 5/24/2017 a. Capital expenditures include s36,000 for new manufacturing equipment to be purchased and paid in the first quarter. b. Cash receipts are 60% of sales in the quarter of the sale and 40% in the quarter following the sale. c. Direct materials purchases are paid 70% in the quarter purchased and 30% in the next quarter. d. Direct labor, manufacturing overhead, selling and administrative costs are and in the e. Income tax expense for the first quarter is projected at $42,000 and is paid in the quarter incumed. Sosa Company expects to have adequate cash funds and does not anticipate borrowing in the first quarter. f. The December 31, 2015, balance in cash is $14,000, in Accounts is $23,200, and in Accounts Payable is $10,500. Receivable g