Cash Budget
The projections of direct materials purchases that follow are for the Stromboli Corporation.
| Purchases on Account | Cash Purchases | |
| December, 2010 | $40,000 | $20,000 |
| January, 2011 | 60,000 | 30,000 |
| February, 2011 | 50,000 | 25,000 |
| March, 2011 | 70,000 | 35,000 |
The company pays for 60 percent of purchases on account in the month of purchase and 40 percent in the month following the purchase. Prepare a monthly schedule of expected cash payments for direct materials for the first quarter of 2011.
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