Stately Corporation is preparing its cash payments budget for next month. The following information pertains to the cash payments: i (Click the icon to view the data.) How much cash will be paid out next month? Stately Corporation Cash Payments Budget Cash payments for direct materials: 50% of last month's purchases 50% 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 is preparing its cash payments budget for next month. The following information pertains to the cash payments: (Click the icon to viow the data.) How much cash will be paid out next month? 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 $71,000, while the company anticipates $82,000 of direct material purchases next month b. Direct labor for the upcoming month is budgeted to be $31,000 and will be paid at the end of the upcoming month. c. 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 $19,000 of depreciation on the plant and equipment. d. Monthly operating expenses for next month are expected to be $45,000, which includes $2,600 of depreciation on office equipment and $1,000 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 $7,300 next month