Score: 0 of 2 pts 6 of 10 7 complete) HW Score: 60%, 12 of 20 pts S9-12 (similar to) Question Help next month. The following information perlains to the cash payments: Stately Corporation is preparing its cash payments budget (Click the loon to view the data.) How much cash will be paid out next month? i More Info Stately Corporation Cash Payments Budget Cash payments for direct materials 55% of last month's purchases 45% 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 45% 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 $80,000 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. G. Manufacturing overhead is estimated to be 130% of direct labor cost each month and is paid in the month in which it is incurred. This monthly estimate includes $17,000 of depreciation on the plant and equipment. d. Monthly operating expenses for next month are expected to be $44,000, which includes $2,900 of depreciation on office equipment and S1,700 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 $7,700 next month. Print Done Enter any number in the edit fields and then click Check Answer. ? Score: 0 of 2 pts 10 of 10 (7 complete) HW Score: 60%, 12 of 20 pts P9-63A (similar to) s Question Help Neat Logos buys logo-imprinted merchandise and then sells it to university bookstores. Sales are expected to be $2,002,000 in September, $2,230,000 in October, $2,381,000 in November, and $2,520,000 in December. Neat Logos sets its prices to earn an average 40% gross profit sales revenue. The company does not want inventory to fall below $435,000 plus 15% of the next month's cost of goods sold. Prepare a cost of goods sold, inventory, and purchases budget for the months of October and November Neat Logos Cost of Goods Sold, Inventory, and Purchases Budget For the Months of October and November October November Cost of goods sold Plus: Desired ending Inventory Total Inventory required Less: Beginning inventory Purchases Question Viewer