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The projections of flour (DM) purchases that follow are for the Rice Bowl: January-22 February-22 March-22 April-22 May-22 June-22 July-22 Purchases on Account $240,000
The projections of flour (DM) purchases that follow are for the Rice Bowl: January-22 February-22 March-22 April-22 May-22 June-22 July-22 Purchases on Account $240,000 180,000 $150,000 $226,000 238,000 $192,000 $200,000 Cash Purchases $50,000 48,000 $45,000 $38,000 26,000 $47,000 $40,000 The company pays for 25% of purchases on account in the month of purchase' 35% in the month following the purchase and 40% in the second month following the purchase. Prepare a monthly schedule of expected cash payments for direct materials for each of the individual months of the second quarter (April - June) of 2022. Also, please show the total for the quarter. (17 points)
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