Serenity 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? Data table a. Serenity Corporation pays for 50% of its direct materials purchases in the month of purchase and the remainder the following month. The current month's direct material purchases were $72,000, while Serenity Corporation anticipates $88,000 of direct material purchases next month. b. Direct labour for the upcoming month is budgeted to be $32,000 and will be paid at the end of the upcoming month. c. Manufacturing overhead is estimated to be 140% of direct labour cost each month and is paid in the month in which it is incurred. This monthly estimate includes $11,000 of depreciation on the plant and equipment. d. Monthly operating expenses for next month are expected to be $45,000, which includes $2,000 of depreciation on office equipment and $1,500 of bad debt expense. These monthly operating expenses are paid during the month in which they are incurred. e. Serenity Corporation will make an estimated tax payment of $7,300 next month