Aggie Corp is preparing its Master Budget for $2024.$ Schedule of Cash Disbursements for Materials Purchases on the excel template provided and create

a function that allows management to enter a month and get amount of materials purchased and cash

spent for that month. Required Production

o January $=90,000$ units

o February $=70,000$ units

o March $=125,000$ units

o April $=130,000$ units

$$ Pounds of materials needed per unit $=3$ pounds

$$ Beginning raw materials inventory on January $1,2024=50,000$ pounds.

$$ Percentage of the following month$$s production used to determine desired ending

inventory $=20\%$

$$ Raw materials cost per pound $=$ $$2\mathrm{.}5$ per pound Cost of raw materials to be purchased $$655,000$ $$607,500$ $$945,000$ $$2,207,500$

Total Cash Disbursements for Materials $$521,000$ $$637,250$ $$682,125$ $$1,840,375$ QUESTION PREPARE A SCHEDULE OF CASH PAYMENTS FOR RAW MATERIALS $(5$ POINTS$)$

Prepare the Schedule of Cash Payments for the first three months of Aggie$$s fiscal year $($January$,$

February, and March$)$ and for the quarter, using the template in the Excel spreadsheet. HINT:

cost of raw materials that Aggie is paying for comes from the last line of your direct materials

budget.

$$ Aggie$$s payment schedule:

o $20\%$ of purchases are paid for in the month of purchase

o $65\%$ are paid for in the month after purchase

o $15\%$ are paid for in the second month after purchase

$$ Beginning accounts payable $=$ $$600,000.$ Assume $65\%$ of the beginning accounts payable

will be paid in January and $15\%$ in February.