Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process. Sales
Unit sales for November 2019 114,000
Unit sales for December 2019 102,000
Expected unit sales for January 2020 114,000
Expected unit sales for February 2020 113,000
Expected unit sales for March 2020 117,000
Expected unit sales for April 2020 126,000
Expected unit sales for May 2020 138,000
Unit selling price $12

Waterways likes to keep 10% of the next monthâs unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31, 2019, totaled $183,600.

Direct Materials

Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit.
Waterways likes to keep 5% of the materials needed for the next month in its ending inventory. Raw Materials on December 31, 2019, totaled 11,400 pounds. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 50% is paid in the month after purchase. Accounts Payable on December 31, 2019, totaled $103,740.

Direct Labor
Labor requires 12 minutes per unit for completion and is paid at a rate of $6 per hour.

Required:
Prepare a schedule for expected payments for materials purchases.