Score: 2.56 of 20 pls 5 of 6/5 complete) % P22-39A (similar to) Humble Company has provided the following budget information for the first quarter of 2018 Click the icon to view the budget information Additional data related to the first quarter ol 2018 for Humble Company Click the icon to view the data) Read the requirements 2018 Teta direct materials purchases Cash Payments Direct Materials: Accounts Payable balance December 31, 2017 1st Qti --Dect material purchases Total payments for direct materials Direct Labor: Total payments for direct labor Enter any number in the edit fields and then click Check Answer 3 parts remaling Clear All acer 5 of 6 (5 complete) i Data Table $ 208,000 41.000 37,400 1.100 700 Total sales Budgeted purchases of direct materials Budgeted direct labor cost Budgeted manufacturing overhead costs: Variable manufacturing overhead Depreciation Insurance and property taxes Budgeted selling and administrative expenses: Salaries expense Rent expense Insurance expense Depreciation expense Supplies expense 6.550 8,000 1,000 1,700 150 6.240 Print Done acer 5 of 6 (5 complete) i More Info Capital expenditures include $45,000 for new manufacturing equipment to be a. purchased and paid in the first quarter. Cash receipts are 70% of sales in the quarter of the sale and 30% in the b. quarter following the sale. Direct materials purchases are paid 50% in the quarter purchased and 50% in c. the next quarter Direct labor, manufacturing overhead, and selling and administrative costs are d. paid in the quarter incurred. Income tax expense for the first quarter is projected at $44,000 and is paid in e. the quarter incurred. Humble Company expects to have adequate cash funds and does not f. anticipate borrowing in the first quarter. The December 31, 2017, balance in Cash is $35,000, in Accounts Receivable g. is $20, 300, and in Accounts Payable is $17,300 Print Done Clear All acer