Elwood 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 Elwood 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.) January February March Total Cash Payments Data table Direct Materials: Accounts Payable balance, January 1 JanuaryDirect material purchases paid in February FebruaryDirect material purchases paid in March January February March $ 3,600 $ 3,900 $ 4,400 Direct materials purchases Direct labor costs 3,500 3,000 3,500 Total payments for direct materials Depreciation on plant 200 200 200 Utilities for plant 560 560 560 Direct Labor: 310 310 310 Total payments for direct labor Property taxes on plant Depreciation on office Utilities for office 250 250 250 240 240 240 Property taxes on office 130 130 130 Office salaries 5,500 5,500 5,500 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. Help me solve this Demodocs example Get more help Check