Zisk Company purchases direct materials on credit. Budgeted purchases are April, $80,000; May, $110,000; and June, $120,000. Cash payments for purchases are: 70% in the month of purchase and 30% in the first month after purchase. Purchases for March are $70,000. Prepare a schedule of cash payments for direct materials for April, May, and June. $ Current period purchases Ending accounts payable Total purchases 70% 30% April 56,000 $ 70,000 126,000 $ May 77,000 $ 24,000 101,000 $ June 84.000 33,000 117,000 $ June ZISK COMPANY Schedule of Cash Payments for Direct Materials April May Cash payments for: Current period purchases $ 56,000 $ 77,000 $ Prior period purchases 70,000 33,000 Total cash payments $ 126,000 $ 110,000 $ 84,000 36,000 120,000