The Folding Company is preparing its cash payment budget. The following terme votate to cash payments the company andois making during the second guarter the upcoming you de toon to the cash payment formation Requirement Prepare a cash payments budget for Art, May, and June and for the quarter to bolo not used in the blow The box eroty, do not enter and The Folding Company Cash Payments Budget For the Month of April through June April May June Quarter Cash payment for direct materiale 50% of current month purchase 50% of last month's purchase 1 X year. budget on.) More info Une ang Comp nts Bud pril the pril a. The company pays for 50% of its direct materials purchases in the month of purchase and the remainder the following month. The company's direct material purchases for March through June are anticipated to be as follows: March April May Juno $ 114,000 $ 132,000 $ 120,000 $ 145,000 b. Direct labor is paid in the month in which it is incurred. Direct labor for each month of the second quarter is budgeted as follows: April May June 56,000 $ 66,000 $ 81,000 c. Manufacturing overhead is estimated to be 130% of direct labor cost each month. This monthly estimate includes $36,000 of depreciation on the plant and equipment. All manufacturing overhead (excluding depreciation) is paid in the month in which it is incurred. d. Monthly operating expenses for March through June are projected to be as follows: March April May June $ 70,000 $ 84,000 $ 87,000 $ 96,000 Monthly operating expenses are paid in the month after they are incurred. Monthly operating expenses include $10,000 for monthly depreciation on administrative offices and equipment, and $2,800 for bad debt expense. e. The company plans to pay $4,000 (cash) for a new server in May. f. The company must make an estimated tax payment of $12,500 on June 15 Print Done