N1.Account A manufacturing company's budgeted income statement includes the following data:Data extracted from budgetedincome statementSales revenueCommission expense (20%of sales)Salaries expenseMiscellaneous expense 4% ofsalesRent expenseUtilities expenseInsurance expenseDepreciation expenseMar$130,000A. $56,800OB. $65,800OC. $63,100D. $70,00026,00032,0005,2004,0002,3002,7004,200Apr$90,00018,00032,0003,6004,0002,3002,7004,200May$95,00019,00032,0003,8004,0002,3002,7004,200Jun$95,00019,00032,0003,8004,0002,3002,7004,200The budget assumes that 60% of commission expenses are paid in the month they are incurred andthe remaining 40% are paid one month later. In addition, 50% of salaries expenses are paid in thesame month, and the remaining 50% are paid one month later. Miscellaneous expenses,rent expense, and utilities expenses are assumed to be paid in the same month in which they areincurred. Insurance has been paid in advance for the year on January 1.Calculate total budgeted cash payments for selling and administrative expenses for the month ofApril.

Lets understand the basics. Management prepares budget in order to estimate future profit and loss…

A manufacturing company's budgeted income statement includes the following data: Data extracted from budgeted income statement Sales revenue Commission expense (20% of sales) Salaries expense MiscellanOQU ONDORE Mar $130,000 26,000 32,000 Apr $90,000 May $95,000 18,000 19,000 32,000 32,000 Jun $95,000 19,000 32,000

A manufacturing company's budgeted income statement includes the following data: Data extracted from budgeted income statement Sales revenue Commission expense (20% of sales) Salaries expense MiscellanOQU ONDORE Mar $130,000 26,000 32,000 Apr $90,000 May $95,000 18,000 19,000 32,000 32,000 Jun $95,000 19,000 32,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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