Skyfall Inc. is a corporation specialising in recruiting and training new sples. You are a financial analyst assisting Skyfall Inc. with their upcoming budget, specifically their direct materials budget. The direct material purchases are usually made up of various spy equipment and other materials as required for training. Mr. Bond - the instructor in charge for the upcoming training - provided you with the budgeted purchases for the first quarter of the year. January February March Budgeted purchases $145,00 $196,000 $120,000 Mr. Bond also told you that all purchases are made on credit. On average, the company pays for 80% of its purchases in the month of acquisition and the remainder in the following month. He also told you that purchases take place fairly evenly throughout the month. Required: 1. For the months of February and March, what are the budgeted cash payments for purchases of direct materlals under the assumption that there is no (cash) discount for early payment? 2. For the months of February and March, what are the budgeted cash payments for purchases of direct materials under the assumption that the purchase terms are 2/15, net 30? The company's policy is to take advantage of all cash discounts for early payment. 3a. Using the purchase terms in Requirement 2. calculate the opportunity cost if Bond does not decide to take advantage of the early payment discount 3b. Can it be considered good economic policy to take advantage of early payment discounts? 900d economic policy to take advantage of early payment discounts? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Rea JA Reg 30 For the months of February and March, what are the budgeted cash payments for purchases of direct materials under the assumption that there is no (cash) discount for early payment? February March Budgeted cash payment Req2 > Req 1 Beg 2 Req 3A Req 38 For the months of February and March, what are the budgeted cash payments for purchases of direct materials under the assumption that the purchase terms are 2/15, net 307 The company's policy is to take advantage of all cash discounts for early payment February March Budgeted cash payment Complete this question by entering your answers in the tabs below. Reg 1 Req2 Reg 3A Reg 38 Using the purchase terms in Requirement 2, calculate the opportunity cost Il Bond does not decide to take advantage of the early payment discount. (Enter your answer as a percent rounded to 2 decimal places (.e. 1234 - 12.349)) Opportunity cost % Complete this question by entering your answers in the tabs below. Red 1 Reg 2 Req 3A Reg 3B Can it be considered good economic policy to take advantage of early payment discounts? Yes No