The Ellis Company, a retail company, has budgeted its activity for September according to the following information: Sales are budgeted at $392,000 and all sales are for cash. All purchases of merchandise inventory are for cash. Merchandise inventory was $150,000 on August 31 and the planned merchandise inventory on September 30 is $140,000. All merchandise is sold at 40% above cost. The selling and administrative expenses are budgeted at $92,000 for the month. All of these expenses are paid for in cash except for depreciation of $12,000. 7. The budgeted net income for September is: $20,000. $143,200. а. b. с. d. was siare The budgeted cash disbursements for September are: $140,000. $270,000. $350,000. $362,000. а. b. с. d.
The Ellis Company, a retail company, has budgeted its activity for September according to the following information: Sales are budgeted at $392,000 and all sales are for cash. All purchases of merchandise inventory are for cash. Merchandise inventory was $150,000 on August 31 and the planned merchandise inventory on September 30 is $140,000. All merchandise is sold at 40% above cost. The selling and administrative expenses are budgeted at $92,000 for the month. All of these expenses are paid for in cash except for depreciation of $12,000. 7. The budgeted net income for September is: $20,000. $143,200. а. b. с. d. was siare The budgeted cash disbursements for September are: $140,000. $270,000. $350,000. $362,000. а. b. с. d.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 34E: A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and...
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![The Ellis Company, a retail company, has budgeted its activity for September according to
the following information:
Sales are budgeted at $392,000 and all sales are for cash.
All purchases of merchandise inventory are for cash. Merchandise inventory was
$150,000 on August 31 and the planned merchandise inventory on September 30 is
$140,000. All merchandise is sold at 40% above cost.
The selling and administrative expenses are budgeted at $92,000 for the month. All of
these expenses are paid for in cash except for depreciation of $12,000.
7.
The budgeted net income for September is:
$20,000.
$143,200.
$112,000.
а.
b.
C.
d.
was siare
The budgeted cash disbursements for September are:
$140,000.
$270,000.
$350,000.
$362,000.
а.
b.
с.
d.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F74e4c722-bcf9-4482-abee-77e59e05e001%2F7916bd3b-e0b7-4e29-8a7a-9dc40e6a6268%2Fsosgno_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The Ellis Company, a retail company, has budgeted its activity for September according to
the following information:
Sales are budgeted at $392,000 and all sales are for cash.
All purchases of merchandise inventory are for cash. Merchandise inventory was
$150,000 on August 31 and the planned merchandise inventory on September 30 is
$140,000. All merchandise is sold at 40% above cost.
The selling and administrative expenses are budgeted at $92,000 for the month. All of
these expenses are paid for in cash except for depreciation of $12,000.
7.
The budgeted net income for September is:
$20,000.
$143,200.
$112,000.
а.
b.
C.
d.
was siare
The budgeted cash disbursements for September are:
$140,000.
$270,000.
$350,000.
$362,000.
а.
b.
с.
d.
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