Clue #6- Cash Disbursements for Selling and Administrative Expenses Monthly selling and administrative expenses are budg

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Clue 6 Cash Disbursements For Selling And Administrative Expenses Monthly Selling And Administrative Expenses Are Budg 1 (51.68 KiB) Viewed 34 times

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Clue #6- Cash Disbursements for Selling and Administrative Expenses Monthly selling and administrative expenses are budgeted as follows: . • ● . salaries and wages, $13,125 per month; shipping, 6% of sales; advertising, $10,500 per month; other expenses, 4% of sales; Depreciation, including depreciation on new assets acquired during the quarter, will be $10,500 for the quarter. What are total expected cash disbursements for selling and administrative expenses for June? 32025

Clue #1- Sales Budget The marketing department has estimated sales in units as follows: March (actual) 21,000 April 24,500 May 29,750 June 31,500 July 17,500 I The selling price of each unit is $5. What are the total sales budgeted for the second quarter?

Sales are 20% for cash and 80% on credit. All payments on credit sales are collected in the month following the sale. The accounts receivable at March 31 are a result of March credit sales. What is the expected amount of cash to be collected in June? (Hint: You may want to calculate April and May also to help you later in the race.)

Assets Liabilities & Owners' Equity Liabilities. Owners' Equity . Cash Accounts Receivable Inventory Buildings & equipment (net) ● Accounts Payable Nordic Company Balance Sheet March 31, 2020 Capital Stock Retained earnings Total liab. & Owners' equity IMPORTANT instructions! When entering your answers, make sure you format them in WITHOUT the $. For example: Total Assets Positive Numbers: 123,000 NOT $123,000. Negative Numbers: (123,000) NOT ($123,000) $15,750 $84,000 $22,050 $374,675 $496,475 $32,025 $332,500 $131,950 $496,475