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New Ventures intends to start business on January 1. Production plans for the first four...

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New Ventures intends to start business on January 1. Production plans for the first four months of operations are as follows: January 15,000 units February 40,000 units March 70,000 units April 70,000 units Each unit requires 2 kilograms of material. The firm would like to end each month with enough raw material inventory on hand to cover 25% of the following month's production needs. The material costs $6 per kilogram. Management anticipates being able to pay for 40% of the purchases in the month of purchase. The firm will receive a 10% discount for these early payments. Management anticipates having to defer payment to the next month on 60% of the firm's purchases. No discount will be taken on these late payments. The business starts with no inventories on January 1. Determine the budgeted payments for purchases of materials for each of the first three months of operations. (Round answers to the nearest whole dollar, e.g. 5,275.) January February March x Payments for purchases of materials $1 108000 536400 745200

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