Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: May June April $155,300 Manufacturing costs (1) $192,000 $212,400 Insurance expense (2) 1,0440 1,040 1,040 2,030 2,030 Depreciation expense Property tax expense (3) 2,030 500 500 500 (1) of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month (2) Insurance expense is $1,040 a month; however, the insurance is paid four times yearly in the first month of the quarter, (1.0, January, April, July, and October). (3) Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of May are a $221.650 Ob. 538,825 c. $182.25 d. $144,000 Previous Next