Reference no: EM132617721

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

Data Table

                                           January                    February                               March

Direct materials purchases         $3,600                      $4,400                      $4,000

Direct labor costs                    2,900                       3,100                        3,700

Depreciation on plant               300                            300                           300

Utilities for plant                       550                             550                         550

Property taxes on plant            260                               260                     260

Depreciation on office               500                               500                   500

Utilities for office                        630                              630                 630

Property taxes on office                160                          160                       160

Office salaries                             2,500                        2,500                 2,500

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.

Problem 1: Prepare a schedule of cash payments for Marcel for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31. (If a box is not used in the table leave the box? empty; do not enter a zero.)