E22-27 (similar to)Question Help

Marcel Company has the following projected costs for manufacturing and selling and administrativeexpenses:

Data Table

January IS THE FIRST ONE

February IS THE SECOND ONE

March IS THE THIRD ONE

Direct materials purchases

$3,600

$4,400

$4,000

Direct labor costs

2,900

3,100

3,700

Depreciation on plant

300

300

300

Utilities for plant

550

550

550

Property taxes on plant

260

260

260

Depreciation on office

500

500

500

Utilities for office

630

630

630

Property taxes on office

160

160

160

Office salaries

2,500

2,500

2,500

All costs are paid in month incurredexcept: directmaterials, which are paid in the month following thepurchase; utilities, which are paid in the month afterincurred; and propertytaxes, which are prepaid for the year on January 2. The Accounts Payable and Utilities Payable accounts have a zero balance on January 1.

Prepa.re a schedule of cash payments for Marcel for January, February, and March. Determine the balances in Prepaid PropertyTaxes, AccountsPayable, and Utilities Payable as of March 31. (If a box is not used in the table leave the boxempty; do not enter azero.)