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ine Denver Corporanon nas forecast the following sales for the mist seven months or ine...

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ine Denver Corporanon nas forecast the following sales for the mist seven months or ine year January 31,00 February 33,000 March 35,00 April 41,000 May 31,000 June 37,00 July 39, Monthly material purchases are set equal to 20 percent of forecast sales for the next month. Of the total material costs, 30 percent are paid in the month of purchase and 70 percent in the following month Labor costs will run $6,100 per month and foxed overhead is $12,500 per month. Interest payments on the debt will be $5.100 for both March and June. Finally, the Derwer Salesforce will receive a 1.00 percent commission on total sales for the first six months of the year, to be paid on June 30 Prepare a monthly summary of cash payments for the six-month period from January through June. (Note: Compute prior December purchases to help get total material payments for January) Denver Corporation Cash Payments Schedule January February March 5 31.000 33.000 s 35,000 5 December April 410003 May 31.000 5 37 0005 38.000 sales Purchases Payment to material purchases Monthly tabor co Monthly fored overhead Interest expense Sales and expense $ 0 $ 05

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