Required information [The following information applies to the questions displayed below.] The following information is from the manufacturing budget and budgeted financial statements of Altman Corp.: Direct materials inventory, 1/1 Direct materials inventory, 12/31 Direct materials budgeted for use during year Accounts payable to suppliers, 1/1 Accounts payable to suppliers, 12/31 $ 84,000 $ 100,000 $ 342,000 $ 52,000 $ 62,000 For the year, budgeted purchases of direct materials amounted to: For the year, budgeted cash payments to suppliers amounted to