The Morachino Company is preparing is cash payments budget. The following items relate to cash payments the company antiopates making during the second guarter of the upcoming year (1) (Click the icon to Viaw the cash payment intormasion). Requirement Prepare a cach payments budget for Agri, May, and June and for the cuarter. (it a bok ta not used in the table leawe the bex empty, do not enter a zeco) More info a. The company pays for 504 of its direct materiais purchases in the month of purchase and the remainder the following month. The company's ditect matenal purchases for March throuah June are articpaled to be as follows: b. Direct labor is pad in the month in which if is incurred. Orect laboc foc nach , month of the second quarter is budgeted as follows. e. Manutacturing overhead as et'mated to be 140% of direct labor cost each month. This monthly estimsee includes $30,000 of depreciaton on the plant and equipment. Al manufacturing ovechead (excuding depreciaton) is pad in the monit in which it is incurred. d. Montily operating espentes for March through June are projected to be as thimus Monthy operating expenses are paid in the month after they are incurred Monthly operating expenses include \$12.000 for monthly depteciation on adminiatrative offces ant equipment, and $3,400 for bad deot exp 1. The company must make an estimated tax payment of $11,000 on June 15