Question 6 Score: 0 of 2 points 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? More Info Stately Corporation Cash Payments Budget Cash payments for direct materials 45% of last month's purchases 55% of next month's purchases Cash payments for direct labor Cash payments for manufacturing overhead Cash payments for operating expenses Cash payment for taxes Total cash payments a. Stately Corporation pays for 55% of its direct materials purchases in the month of purchase and the remainder the following month Last month's direct material purchases were $79.000, while the company anticipates $86,000 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 160% of direct labor cost each month and is paid in the month in which it is incurred. This monthly estimate includes $13,000 of depreciation on the plant and equipment d. Monthly operating expenses for next month are expected to be 543,000, which includes $2,000 of depreciation on office equipment and $1,000 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 $7,300 next month. Print Done