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 O decimal places, e.g.5,275. Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.) Cash Payments Budget JanuaryFebruary March December A/P January purchases February purchases March purchases Totals Prepare Bates & Hill's cash payments budget for the first quarter. Accounts Payable balance