prepare cash payment budgets for April, May, June and the quarter

The Smith Company is preparing its cash payments budget. The following terms relate to cash payments the company 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 Apri. May, and June and for the quarter. (if a box is not used in the table serve the box emoty, do not enter a zero) More Info The Smith Company Cash Payments Budget For the Months of April through April Cash payments for direct materials 58% of current month purchases 45% of last month's purchase M The company pays for 55% of its direct materials purchases in the month of purchase and the renainder the following month. The company's direct material purchases for March through June are antipared to be as follows: March April May June 5 118.000 $ 132,000 $ 127.000 $140,000 3. Direct laboris paid in the month in which it is incurred Direct labor for each month of the second quarter is budgeted as follows April May June $ 58.000 $66.000 $ 81.000 c. Manufacturing overhead is estimated to be 130% of direct labor cost each month. This monthly estimat includes $34.000 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 $ 74,000 5 87,000 5 85,000 5 97.000 Monthly operating expenses are paid in the month after they are incurred. Monthly operating expenses include $14,000 for monthly depreciation on administrative offices and equipment and $2.700 for bad debt expense e. The company plans to pay $5,000 (cash) for a new server in May t. The company must make an estimated tax payment of $12,000 on June 15