When Crane Company prepares the cash payments budget, the amount that will be allocated as the cash payments budget for November is $65623.
The following information can be depicted from the complete question. Since the purchase is $70482 for November, the payment of 60% in the month of purchase will be:
= 60% × $70482
= $42289
The payment of 40% in the month after purchase will be:
= 40% × $33089
= $13236
The payment to suppliers will be:
= $42289 + $13236 = $55525
Therefore, the budgeted cash payment in November will be:
= Payment to suppliers + Cash operating costs + Cash paid to new equipment
= $55525 + $7903 + $2195
= $65623
Therefore, the cash payments budget for November is $65623.
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