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Mason Company has the following projected costs for manufacturing and selling and administrative expenses:

Prepare a schedule of cash payments for Mason for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31.

January February March Direct materials purchases $ 3,500 $ 4,300 $ 5,000 Direct labor costs 2,700 3,000 3,500 Depreciation on plant 900 900 900 Utilities for plant 650 650 650 310 310 310 Property taxes on plant Depreciation on office 450 450 450 Utilities for office 550 550 550 Property taxes on office 170 170 170 Office salaries 3,000 3,000 3,000 All costs are paid in month incurred except: direct materials, which are paid in the month following the purchase; utilities, which are paid in the month after incurred; and property taxes, which are prepaid for the year on January 2. The Accounts Payable and Utilities Payable accounts have a zero balance on January 1. January February March Total Cash Payments Direct Materials: Accounts Payable balance, January 1 JanuaryDirect material purchases paid in February FebruaryDirect material purchases paid in March Total payments for direct materials Direct Labor: Total payments for direct labor Manufacturing Overhead: Total payments for manufacturing overhead Selling and Administrative Expenses: Total payments for Selling and Admin. expenses Total cash payments Acccount balances, March 31: Prepaid Property Taxes Accounts Payable Utilities Payable

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