Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: Material purchases January $ 12,460 February March $ 14,570 $ 11,390 Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts Payable balance is $6,700. The budgeted cash payments for materials in January are: Multiple Choice $6,700 $9.580. Bay $12.930 $13,515. $19,160