Jenny Inc. has the following projected costs for the second quarter of 20YY: Projected Costs Expenses April May June Selling and marketing expenses (i) $200,000 $250,000 $300,000 Office insurance expense (ii) 800 800 800 Office depreciation expense 500 500 500 Property tax expense (iii) 700 700 700 Jenny’s payment policy for selling and administrative expenses is as follows: Of the selling and marketing expenses, 50% is paid in the month they are incurred; the remaining 50% to be paid in the following month. The selling and admin expense payable at the end of March was $70,000, which represents 50% of March’s selling expenses. Insurance expense is $800 a month; however, the insurance is paid quarterly in the first month of each quarter, (i.e., in January, April, July, and October). Property taxes are paid once a year in December. The projected total selling and admin expenses for April are: Group of answer choices None of the above $172,400 $202,000 $204,400
Jenny Inc. has the following projected costs for the second quarter of 20YY: Projected Costs Expenses April May June Selling and marketing expenses (i) $200,000 $250,000 $300,000 Office insurance expense (ii) 800 800 800 Office depreciation expense 500 500 500 Property tax expense (iii) 700 700 700 Jenny’s payment policy for selling and administrative expenses is as follows: Of the selling and marketing expenses, 50% is paid in the month they are incurred; the remaining 50% to be paid in the following month. The selling and admin expense payable at the end of March was $70,000, which represents 50% of March’s selling expenses. Insurance expense is $800 a month; however, the insurance is paid quarterly in the first month of each quarter, (i.e., in January, April, July, and October). Property taxes are paid once a year in December. The projected total selling and admin expenses for April are: Group of answer choices None of the above $172,400 $202,000 $204,400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Jenny Inc. has the following projected costs for the second quarter of 20YY:
Projected Costs| Expenses | April | May | June |
|---|---|---|---|
| Selling and marketing expenses (i) | $200,000 | $250,000 | $300,000 |
| Office insurance expense (ii) | 800 | 800 | 800 |
| Office |
500 | 500 | 500 |
| Property tax expense (iii) | 700 | 700 | 700 |
Jenny’s payment policy for selling and administrative expenses is as follows:
- Of the selling and marketing expenses, 50% is paid in the month they are incurred; the remaining 50% to be paid in the following month. The selling and admin expense payable at the end of March was $70,000, which represents 50% of March’s selling expenses.
- Insurance expense is $800 a month; however, the insurance is paid quarterly in the first month of each quarter, (i.e., in January, April, July, and October).
- Property taxes are paid once a year in December.
The projected total selling and admin expenses for April are:
Group of answer choices
None of the above
$172,400
$202,000
$204,400
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