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Marlin Company has the following projected costs for manufacturing and selling and administrative expenses: (Click the icon to view the projected costs.) Prepare a
Marlin 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 Marlin for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31. (Assume the company started operations i January. If an input field is not used in the table leave the input field empty; do not enter a zero.) Cash Payments Direct Materials: Accounts Payable balance, January 1 January-Direct material purchases paid in February FebruaryDirect material purchases paid in March Total payments for direct materials Direct Labor: Total payments for direct labor January February March Total Data table January February March Direct materials purchases $ 3,500 $ 3,500 $ 5,000 Direct labor costs 2,700 3,400 4,100 Depreciation on plant 500 500 500 Utilities for plant 720 720 720 Property taxes on plant 140 140 140 Depreciation on office 100 100 100 Utilities for office 550 550 550 Property taxes on office 120 120 120 Office salaries 5,000 5,000 5,000 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.
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