For February, sales revenue is $638,000, sales commissions are 5% of sales, the sales manager's salary is $87,100, advertising expenses are $85,400, shipping expenses total 1% of sale, and miscellaneous selling expenses are $2,500 plus 1/2 of 1% of sales. Total selling expenses for the month of February are a.$175,000 b.$216,470 c.$206,900 d.$213,280

The management of Marigold Industries estimates that credit sales for August, September, October, and November will be $550,000, $735,000, $885,000, and $480,000, respectively. Experience has shown that collections are made as follows: In month of sale   25%   In first month after sale   60%   In second month after sale   10%   Determine the collections from customers in October and November

Assume a merchandising company's estimated sales for January, February, and March are $107,000, $ 127,000, and $117,000, respectively. Its cost of goods sold is always 60% of its sales. The company always maintains ending merchandise inventory equal to 20% of next month's cost of goods sold. It pays for 20% of its merchandise purchases in the month of the purchase and the remaining 80% in the subsequent month. What are the cash disbursements for merchandise purchases that would appear in the company's cash budget for February? Multiple Choice $68,280 $65, 280 $71,280 $70,280

An income statement for Sam's Bookstore for the first quarter of the year is presented below. Sam's Bookstore Income Statement For Quarter Ended March 31 Sales Cost of goods sold $910,000 565,000 Gross margin 345,000 Selling and administrative expenses Selling Administrative $ 120,000 144,000 264,000 Net operating income $ 81,000 On average, a book sells for $70. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed. The net operating income using the contribution approach for the first quarter is: Multiple Choice $81,000 $280,000 $345,000 $243,600

Page Company makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected in the month of sale, 25% in the month following sale, and 11% in the second month following sale. The remainder is uncollectible. The following information has been gathered for the current year:    Month 1 2 3 4 Total sales $74,000 $90,000 $66,000 $44,000 Total cash receipts in Month 4 will be:   Multiple Choice   $36,960.   $64,900.   $50,160.   $48,600.

A company reported net income of $4,805 for October. Its net sales for October were $15,500. Its profit margin is: Multiple Choice 7%. O 31%. 3%. 323%. 200%.

Brooklyn Studio's sales are all made on account. The firm's collection experience has been that 29% of a month's sales are collected in the month the sale is made, 52% are collected in the month following the sale, and 17% are collected in the second month following the sale. The sales forecast for the months of September through December is as follows: September October November December $ 236,000 285,000 307,000 369,000 Required: Calculate the cash collections that would be included in the cash budgets for November and December. November December Cash Collections 4

The data shown were obtained from the financial records of Italian Exports, Inc., for March: Estimated Sales $570,000 Sales 567,921 Purchases 294,826 Ending Inventory* 10% Administrative Salaries 50,280 Marketing Expense** 5% Sales Commissions 2% Rent Expense 7,300 Depreciation Expense 900 Utilities 2,700 Taxes*** 15% *of next month's sales **of estimated sales ***of income before taxes Sales are expected to increase each month by 10%. Prepare a budgeted income statement. Round your answers to the nearest dollar. Italian Exports, Inc. Budgeted Income Statement For the Month Ending Mar. 31, 2020 Sales  $fill in the blank 2 Cost of Goods Sold   Beginning Inventory  $fill in the blank 4 Purchases  fill in the blank 6 Cost of Goods Available for Sale  $fill in the blank 8 Ending Inventory  fill in the blank 10 Cost of Goods Sold  $fill in the blank 12 Gross Profit  fill in the blank 14 Operating Expenses   Administrative Salaries…

Please help me with show all Calculation thanku

The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: Cash Accounts receivable Inventory Building and equipment, net Accounts payable Common stock Retained earnings a. The gross margin is 25% of sales. b. Actual and budgeted sales data: March (actual) April May $ 7,600 $ 20,400 $ 40,200 $128,400 $ 23,925 $ 150,000 $ 22,675 $51,000 $ 67,000 $ 72,000 June July $ 97,000 $ 48,000 c. Sales are 60% for cash and 40% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are a result of March credit sales. d. Each month's ending inventory should equal 80% of the following month's budgeted cost of goods sold. e. One-half of a month's inventory purchases is paid for in the month of purchase; the other half is paid for in the following month. The accounts payable at March 31 are the result of March purchases of Inventory. £ Monthly expenses are as follows:…