Moon Phases, Inc. is a manufacturer of telescopes. The following information was prepared as part of the master budget: Month March April May Direct Materials Purchases $68,000 $77,000 $80,000 25% of purchases are paid for in the month of purchase. The remaining direct material purchases are made on account and paid in the first month following the month of purchase. What are the company's projected payments to suppliers in May? $77,750 $74,750 $80,000 $70,250 $60,984