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Maria Bockman, Bates & Hill Fabricators accounts payable manager, has just received the companys direct materials purchases budget for the first quarter. January February March

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

January

February

March

Quarter

Budgeted purchase cost

$21,223 $41,603 $36,702 $99,528

The company makes all of its direct materials purchases on account. Marias recent review of the companys 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 $14,940 on January 1, and this amount represents the remaining payables from Decembers direct materials purchases. Prepare Bramble & Hills 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
January February March Total Cash Payments
December A/P $Enter a dollar amount Enter a dollar amount $Enter a dollar amount Enter a dollar amount $Enter a dollar amount Enter a dollar amount $Enter a dollar amount Enter a dollar amount
January purchases Enter a dollar amountEnter a dollar amount Enter a dollar amountEnter a dollar amount Enter a dollar amountEnter a dollar amount Enter a dollar amountEnter a dollar amount
February purchases Enter a dollar amountEnter a dollar amount Enter a dollar amountEnter a dollar amount Enter a dollar amountEnter a dollar amount Enter a dollar amountEnter a dollar amount
March purchases Enter a dollar amountEnter a dollar amount Enter a dollar amountEnter a dollar amount Enter a dollar amountEnter a dollar amount Enter a dollar amountEnter a dollar amount
Total $Enter a total amountEnter a total amount $Enter a total amountEnter a total amount $Enter a total amountEnter a total amount $Enter a total amountEnter a total amount

Prepare Bramble & Hills cash payments budget for the first quarter.

Accounts Payable balance $Enter Accounts Payable balance in dollars Enter Accounts Payable balance in dollars

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