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January February March Total Cash Payments Direct Materials: Accounts Payable balance, January 1 January-Direct material purchases paid in February February-Direct material purchases paid in March Total payments for direct materials Direct Labor: Total payments for direct labor Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead Selling and Administrative Expenses: Utilities for office Property taxes on office Office salaries Total payments for Selling and Admin. expenses Total cash payments Acccount balances, March 31: Prepaid Property Taxes Accounts Payable Utilities Payable Show transcribed image textElwood 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 Pay Data Table - X ve the box empty; do not enter a zero.) i January February March Total January February March Cash Payments Direct materials purchases $ 3,200 $ 3,600 $ 4,300 Direct Materials: Direct labor costs 2,900 3,400 4,000 Accounts Payable balance, January 1 Depreciation on plant 550 550 550 January-Direct material purchases paid in February Utilities for plant 550 550 550 February-Direct material purchases paid in March Property taxes on plant 310 310 310 Total payments for direct materials Depreciation on office 150 150 150 Utilities for office 460 460 460 Direct Labor: Property taxes on office 150 150 150 Total payments for direct labor Office salaries 4,500 4,500 4,500 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. Print Done Enter any number in the edit fields and then click Check Answer. ? 2 parts remaining Clear All Check