Multiple Choice Question 110 A company has budgeted direct materials purchases of $370000 in July and $470000 in August. Past experience indicates that the company pays for 70% of its purchases in the month of purchase and the remaining 30% in the next month. During August, the following items were budgeted: $210000 Wages Expense Purchase of office equipment Selling and Administrative Expenses Depreciation Expense 42000 The budgeted cash disbursements for august are 5440000 5778000 $728000