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Maynard Company has the following projected costs for manufacturing and selling and administrative expenses: (Click the icon to view the projected costs.) Prepare a schedule
Maynard 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 Maynard 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 in January. If an input field is not used in the table leave the input field empty; do not enter a zero.) Data table January February March Direct materials purchases $ 4,000 $ 3,500 $ 4,400 Direct labor costs 2,500 3,900 3,800 Depreciation on plant 200 200 200 Utilities for plant 850 850 850 Property taxes on plant 310 310 310 Depreciation on office 500 500 500 Utilities for office 550 550 550 Property taxes on office 160 160 Office salaries 4,500 4,500 4,500 160 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. Print Done January February March Total Cash Payments Direct Materials: Accounts Payable balance, January 1 JanuaryDirect material purchases paid in February FebruaryDirect material purchases paid in March Total payments for direct materials Direct Labor: Total payments for direct labor Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead Selling and Administrative Expenses: Utilities for office Property taxes on office Office salaries Total payments for Selling and Admin. expenses Total cash payments Acccount balances, March 31: Prepaid Property Taxes Accounts Payable Utilities Payable
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