For February, sales revenue is $620,000, sales commissions are 6% of sales, the sales manager's salary is $80,300, advertising expenses are $80,200, shipping expenses total 2% of sale, and miscellaneous selling expenses are $2,700 plus 1/2 of 1% of sales. Total selling expenses for the month of February are Oa $212,800 Ob. $200,400 Oc. $215,900 O d. $163,200

For February, sales revenue is $620,000, sales commissions are 6% of sales, the sales manager's salary is $80,300, advertising expenses are $80,200, shipping expenses total 2% of sale, and miscellaneous selling expenses are $2,700 plus 1/2 of 1% of sales. Total selling expenses for the month of February are Oa $212,800 Ob. $200,400 Oc. $215,900 O d. $163,200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

For February, sales revenue is $579,000, sales commissions are 7% of sales, the sales manager's salary is $80,300, advertising expenses are $87,600, shipping expenses total 3% of sales, and miscellaneous selling expenses are $2,000 plus ½ of 1% of sales. Total selling expenses for the month of February are a. $230,695 b. $227,800 c. $169,900 O d. $210,430
For February, sales revenue is $606,000; sales commissions are 5% of sales; the sales manager's salary is $91,600; advertising expenses are $81,900; shipping expenses total 4% of sales; and miscellaneous selling expenses are $3,000 plus 1/2 of 1% of sales. Total selling expenses for the month of February are Oa. $176,500 Ob. $206,800 Oc. $234,070 Od. $231,040
For February, sales revenue is $613,000, sales commissions are 4% of sales, the sales manager's salary is $ 83,600, advertising expenses are $92, 900, shipping expenses total 4% of sale, and miscellaneous selling expenses are $2,000 plus 1/2 of 1% of sales. Total selling expenses for the month of February are a. $ 230, 605 b. $227, 540 c. $178, 500 d. $203, 020
For February, sales revenue is $555,000; sales commissions are 6% of sales; the sales manager's salary is $85,400; advertising expenses are $90,500; shipping expenses total 1% of sales; and miscellaneous selling expenses are $2,400 plus 1/2 of 1% of sales. Total selling expenses for the month of February are a.$219,925 b.$211,600 c.$178,300 d.$217,150
For February, sales revenue is $610,000, sales commissions are 7% of sales, the sales manager's salary is $91,600, advertising expenses are $92,700, shipping expenses total 3% of sale, and miscellaneous selling expenses are $2,200 plus 1/2 of 1% of sales. Total selling expenses for the month of February are a.$247,500 b.$250,550 c.$186,500 d.$229,200
For January, sales revenue is $500,000; sales commissions are 4% of sales; the sales manager’s salary is $80,000; advertising expenses are $75,000; shipping expenses total 1% of sales; and miscellaneous selling expenses are $2,100 plus ¾ of 1% of sales. Calculate the total selling expenses for the month of January.
The following information pertains to Monroe Company: Month Sales Purchases January $62,000 $33,000 February $84,000 $42,000 March $101,000 $61,000 Cash is collected from customers in the following manner: Month of the sale: 45%, with the remainder the month after. 70% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 35% of sales. Other operating costs are $38,000 per month (including $10,000 of depreciation). Both of these are paid in the month incurred. The cash balance on March 1 is $8,000. A minimum cash balance of $6,000 is required at the end of the month. Money can be borrowed in multiples of $1,000. How much cash will be paid to suppliers in March?
A company budgets sales of $800,000 for June. The company pays a sales manager a monthly salary of $4,000 and a commission of 8% of that months sales. What would be the total selling expenses for the month of June equal?
A merchandiser plans to sell 12,100 units next month at a selling price of $110 per unit. It also gathered the following cost estimates for next month: Cost Cost of goods sold Advertising expense Depreciation expense Shipping expense Administrative salaries Sales commissions Insurance expense Cost Formula $60 per unit sold. $150,000 per month $70,000 per month. $100,000 per month +$10 per unit sold $50,000 per month. 5% of sales $15,000 per month What is the estimated total contribution margin for next month?
For June, Sheffield Corp. estimated sales revenue at $800000. It pays sales commissions that are 4% of sales. The sales manager's salary is $280000, estimated shipping expenses total 1% of sales, and miscellaneous selling expenses are $25000. How much are budgeted selling expenses for the month of July if sales are expected to be $700000? O $345000 O $60000 O $340000 O $35000
Dominic's, Inc. had actual sales for January and February and forecasted sales for March, April, May and June as follows: Actual: January $192,000 February $218,000 Forecast: March $225,000 April $202,000 May $234,000 June $250,000 Based on company experience, it is estimated that 35 percent of a month's sales are collected in the month of sale, 48 percent in the month following the sale, and 16 percent in the second month following the sale. Calculate the estimated cash collections for March, April, and May.
A salesperson receives step commission on sales calculated as follows: 8% on first $1,000 12% next $2,000 20% on sales above 3,000 Calculate the salesperson’s earning in one week if their sales were as follows: Monday-$1500 Tuesday-$3000 Wednesday-$970.00 Thursday-$4563.81 Friday- $2760.42