Sales budget: Unit sales in June, July, and August are 20,000, 18,000, and 17,000, respectively. The selling price per unit is $80. All sales are on account. 20% of sales are collected in the month of sale and 80% are collected in the next month. Production budget: The ending finished goods inventory is always 25% of nex month's unit sales. Selling and administrative expense budget: The variable selling and administrative expense is $4.00 per unit. The total fixed selling and administrative expense is $60,000 including $11,000 of depreciation. What is the total budgeted selling and administrative expense for July? Multiple Choice O O O $129,000 $130,000 $131,000 $132,000

Sales budget: Unit sales in June, July, and August are 20,000, 18,000, and 17,000, respectively. The selling price per unit is $80. All sales are on account. 20% of sales are collected in the month of sale and 80% are collected in the next month. Production budget: The ending finished goods inventory is always 25% of nex month's unit sales. Selling and administrative expense budget: The variable selling and administrative expense is $4.00 per unit. The total fixed selling and administrative expense is $60,000 including $11,000 of depreciation. What is the total budgeted selling and administrative expense for July? Multiple Choice O O O $129,000 $130,000 $131,000 $132,000

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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