QUESTION 42 Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: Manufacturing costs (1) Insurance expense (2) Depreciation expense Property tax expense (3) April $156,800 1,000 2,000 500 May $195,200 1,000 2,000 June $217,600 1,000 2,000 500 500 (1) of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. (2) Insurance expense is $1,000 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). (3) Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of April are a. $122,600 b. $121,100 c. $123,100 d. $120,600