Maria Bockman, Bates & Hill Fabricators' accounts payable manager, has just received the company's direct materials purchases budget for the first quarter.

January

February

March

Quarter

Budgeted purchase cost

$44,480$75,520$66,400$186,400

The company makes all of its direct materials purchases on account. Maria's recent review of the company's payment history revealed that the company pays for 50% of its direct materials purchases in the month of purchase and 50% in the month following purchase. The company expects to have an accounts payable balance of $18,000 on January 1, and this amount represents the remaining payables from December's direct materials purchases.

Prepare Bates & Hill's cash payments budget for the coming year. (Round answers to 0 decimal places, e.g. 5,275. Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.)

Cash Payments Budget

JanuaryFebruaryMarchTotal Cash Payments

December A/P$$$$

January purchases

February purchases

March purchases

Total$$$$

Prepare Bates & Hill's cash payments budget for the first quarter.

Accounts Payable balance

$