Stately 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? More info a. Stately Corporation pays for 50% of its direct materials purchases in the month of purchase and the remainder the following month. Last month's direct material purchases were $76,000, 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. c. Manufacturing overhead is estimated to be 160% of direct labor cost each month and is paid in the month in which it is incurred. This monthly estimate includes $13,000 of depreciation on the plant and equipment. d. Monthly operating expenses for next month are expected to be $46,000, which includes $2,300 of depreciation on office equipment and $1,300 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 $7,800 next month