The Sweeney Company is preparing its cash payments budget. The following items relate to cash payments the company anticipates making during the second quarter of the upcoming year (Click the icon to view the cash payment information.) Requirement Prepare a cash payments budget for April, May, and June and for the quarter. (If a box is not used in the table leave the box empty; do not enter a zero.) a. The company pays for 55% 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 May June $ 119,000 138,000 128,000 145,000 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 ay June $44,000 54,000 S69,000 C. Manufacturing overhead is estimated to be 160% of direct labor cost each month. This monthly estimate includes $31,000 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 pril Ma June $ 76,000 82,000 86,000 95,000 Monthly operating expenses are paid in the month after they are incurred. Monthly operating expenses include $13,000 for monthly depreciation on administrative offices and equipment, and $3,300 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 $13,500 on June 15. The Sweeney Company Cash Payments Budget For the Months of April through June April June Quarter ay Cas h payments for direct materials: $ 75,900 $ 70,400$ 79,750 S 226,050 57,600 173,250 167,000 174,200 195,100 55% of current month purchases 45% of last month's purchases Cash payments for direct labor Cash payments for manufacturing overhead Cash payments for operating expenses Cash payments for new server 53,550 44,000 39,400 59,700 62,100 54,000 55,400 65,700 69,000 79,400 69,700