QUESTIONS Mighty Tow manufactures trailer hitches for personal vehicles. The following information pertains to September 2019: Production budget: 2,000 hitches. Direct materials required: Each hitch requires 7.5 feet of steel. Direct materials cost: S10 per foot. Supplier payment schedule: Pay 75% of the cost of purchases in the month bought, remainder in the following month. The company has a policy of always having 250 feet of steel on hand at the end of the period, in case of excess demand. Last period orders were higher than expected, so the company ended the period with only 200 feet of steel on hand. The Accounts Payable balance at the beginning of the period is $15,000. What is the budgeted amount of cash to be paid for raw materials this month