MC Qu. 138 Fortune Companys direct materials... Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months January February March Material purchases 14,270 11,090 12,160 Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts Payable balance is $6,200. The expected January 31 Accounts Payable balance is: Multiple Choice $6,200 $7135