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Stately Corporation is preparing its cash payments budget for next month. The following information pertains to the cash payments: (Click the icon to view the data.) How much cash will be paid out next month? Stately Corporation Cash Payments Budget More Info Cash payments for direct materials: 55% of last month's purchases 45% of next month's purchases Cash payments for direct labor Cash payments for manufacturing overhead Cash payments for operating expenses a. Stately Corporation pays for 45% of its direct materials purchases in the month of purchase and the remainder the following month. Last month's direct material purchases were $73,000, while the company anticipates $87,000 of direct material purchases next month. b. Direct labor for the upcoming month is budgeted to be $37,000 and will be paid at the end of the upcoming month. c. Manufacturing overhead is estimated to be 130% of direct labor cost each month and is paid in the month in which it is incurred. This monthly estimate includes $15,000 of depreciation on the plant and equipment. d. Monthly operating expenses for next month are expected to be $49,000, which includes $2,700 of depreciation on office equipment and $1,600 of bad debt expense. These monthly operating expenses are paid during the month in which they are incurred. e. Stately Corporation will be making an estimated tax payment of $7,500 next month. Cash payment for taxes Total cash payments Print Print Done Done