Question 1 View Policies Current Attempt in Progress Heaters, Inc. provided the following budgeted information for March through July July June May April March $104,600 $123,000 $115,000 $132,000 $141,400 Projected sales Projected merchandise purchases $82,000 $92,400 $75,300 $66,600 $73,000 $12,000 $13,600 $11,300 $12,400 $14,300 Inventory at end of month . Heaters estimates that it will collect 30% of its sales in the month of sale and 70% in the month after the sale . General operating expenses are budgeted to be $31,000 per month of which depreciation is $3,000 of this amount. Heater pays operating expenses in the month incurred . The income tax rate is 30%. How much is budgeted net income for May? $4,480. O $6,400. $6,090. O $8,400. A hp fs + f6 ins prt sc fio fn 12 home delete II & 7 6 8 backspace loc P
Question 1 View Policies Current Attempt in Progress Heaters, Inc. provided the following budgeted information for March through July July June May April March $104,600 $123,000 $115,000 $132,000 $141,400 Projected sales Projected merchandise purchases $82,000 $92,400 $75,300 $66,600 $73,000 $12,000 $13,600 $11,300 $12,400 $14,300 Inventory at end of month . Heaters estimates that it will collect 30% of its sales in the month of sale and 70% in the month after the sale . General operating expenses are budgeted to be $31,000 per month of which depreciation is $3,000 of this amount. Heater pays operating expenses in the month incurred . The income tax rate is 30%. How much is budgeted net income for May? $4,480. O $6,400. $6,090. O $8,400. A hp fs + f6 ins prt sc fio fn 12 home delete II & 7 6 8 backspace loc P
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question 1
View Policies
Current Attempt in Progress
Heaters, Inc. provided the following budgeted information for March through July
July
June
May
April
March
$104,600 $123,000 $115,000 $132,000 $141,400
Projected sales
Projected merchandise purchases $82,000 $92,400 $75,300 $66,600 $73,000
$12,000 $13,600 $11,300 $12,400 $14,300
Inventory at end of month
. Heaters estimates that it will collect 30% of its sales in the month of sale and 70% in the month after the sale
. General operating expenses are budgeted to be $31,000 per month of which depreciation is $3,000 of this
amount. Heater pays operating expenses in the month incurred
. The income tax rate is 30%.
How much is budgeted net income for May?
$4,480.
O $6,400.
$6,090.
O $8,400.
A
hp
fs +
f6
ins
prt sc
fio
fn
12
home
delete
II
&
7
6
8
backspace
loc
P
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