Question 4: Tom purchases bicycle components in the month prior to assembling them into bicycles. Assembly is scheduled one month prior to budgeted sales. Tom pays 75% of component costs in the month of purchase and 25% of the costs in the following month. Component costs included in budgeted cost of sales are: April May June July August $5,000 $6,000 $7,000 $8,000 $8,000 What is Tom's budgeted cash payments for components in May