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  3. finch company began its operations on march 31 of

Finch Company began its operations on March 31 of the current year. Finch has the...

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Accounting

Finch Company began its operations on March 31 of the current year. Finch has the following projected costs:

April May June
Manufacturing costs (1) $158,500 $195,700 $209,900
Insurance expense (2) 1,200 1,200 1,200
Depreciation expense 2,040 2,040 2,040
Property tax expense (3) 410 410 410

(1) Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. (2) Insurance expense is $1,200 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). (3) Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of April are

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