MX Corporation is preparing its cash payments budget. The following items relate to cash payments that MX Corporation anticipates making during the second quarter of the upcoming year. (Click the icon to view the cash payment information.) Requirement Prepare a cash payments budget for April, May, and June, and for the quarter. Cash payment Information (Leave any unused cells blank.) MX Corporation Cash Payments Budget For the Months of April through June a. MX Corporation pays for 40% of its direct materials purchases in the month of purchase and the remainder the following month. MX Corporation's direct material purchases for March through June are anticipated to be as follows: March April May June April May June Quarter $ 114,000 $ 136,000 $ 130,000 $ 139,000 b. Direct labour is paid in the month in which it is incurred. Direct labour for each month of the second quarter is budgeted as follows: 54400 52000) 55800 162200 45600 54400 52000 152000 April May June Cash payments for direct materials: Current month's purchases Prior month's purchases Cash payments for direct labour Cash payments for manufacturing overhead Cash payments for operating expenses Cash payments for new server 60000 70000 90000 220000 Cash payment for taxes $ 60,000 $ 70,000 $ 90,000 c. Manufacturing overhead is estimated to be 150% of direct labour cost each month. This monthly estimate includes $31,000 of depreciation on the plant and equipment. All manufacturing overhead (excluding depreciation) is paid in the month in which it is incurred. d. Monthly operating expenses for March through June are projected to be as follows: March April May June $ 75,000 $ 83,000 $ 85,000 $ 97,000 Monthly operating expenses are paid in the month after they are incurred. Monthly operating expenses include $16,000 for monthly depreciation on administrative offices and equipment, and $3,100 for bad debt expense. MX Corporation plans to pay $8,000 (cash) for a new server in May f. MX Corporation must make an estimated tax payment of $15,500 on June 15. Total cash payments e Enter any number in the edit fields and then click Check Answer. Print Done Answer All arts showing