June July $68,000 August 77,000 73,000 b. Fein pays 20% of accounts payable in the month of purchase and the remaining 80% in the following month. c. In July, direct labor cost was $35,800. August direct labor cost was $35,400. The company finds that typically 90% of direct labor cost is paid in cash during the month, with the remainder paid in the following month. d. August overhead amounted to $77,200, including $6,350 of depreciation. e. Fein had taken out a 4-month loan of $21,000 on May 1. Interest, due with payment of principal, accrued at the rate of 9% per year. The loan and all interest were repaid on August 31. (Note: Use whole months to compute interest payment.) Required: Prepare a schedule of cash payments for Fein Company for the month of August. Be sure to enter percentages as whole numbers. Fein Company Schedule of Cash Payments For August Payments on accounts payable: From July purchases August 77,000 80 % 61,600 From August purchases 73,000 20 % 14,600 Direct labor payments: From July From August 10 % 70,850 35,400 x 90 % 31,860 Overhead Loan repayment