Please don't provide handwritten solution .... The following details have been extracted from the budget of a merchandising company.$8,500 per month$4,000 per monthRent ExpenseDepreciation ExpenseInsurance ExpenseMiscellaneous Expense$1,250 per month4% of sales, paid as incurredCommissions ExpenseSalaries ExpenseSalesDec$65,00010% of sales$6,000 per monthOA. $33,950B. $47,250OC. $81,200O D. $27,800JanFeb$70,000 $85,000March$100,000Commissions and salaries expenses are paid 50% in the month to which they are incurred and thebalance in the next month. Rent and miscellaneous expenses are paid as and when they occur.Insurance is prepaid at the beginning of the quarter. Calculate cash payments for the selling andadministrative expenses for the first quarter of the next year.

The cash payments include the payments for prior period and current period. The depreciation expense…

The following details have been extracted from the budget of a merchandising $8,500 per month $4,000 per month $1,250 per month Rent Expense Depreciation Expense Insurance Expense Miscellaneous Expense Commissions Expense Salaries Expense Sales Dec $65,000 4% of sales, paid as incurred 10% of sales $6,000 per month OA. $33,950 OB. $47,250 OC. $81,200 OD. $27,800 Jan Feb $70,000 $85,000 March $100,000 Commissions and salaries expenses are paid 50% in the month to which they are incurred and the balance in the next month. Rent and miscellaneous expenses are paid as and when they occur. Insurance is prepaid at the beginning of the quarter. Calculate cash payments for the selling and administrative expenses for the first quarter of the next year.

The following details have been extracted from the budget of a merchandising $8,500 per month $4,000 per month $1,250 per month Rent Expense Depreciation Expense Insurance Expense Miscellaneous Expense Commissions Expense Salaries Expense Sales Dec $65,000 4% of sales, paid as incurred 10% of sales $6,000 per month OA. $33,950 OB. $47,250 OC. $81,200 OD. $27,800 Jan Feb $70,000 $85,000 March $100,000 Commissions and salaries expenses are paid 50% in the month to which they are incurred and the balance in the next month. Rent and miscellaneous expenses are paid as and when they occur. Insurance is prepaid at the beginning of the quarter. Calculate cash payments for the selling and administrative expenses for the first quarter of the next year.

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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