R Company\'s budgeted income statement includes the following data: Data extract

Question

R Company's budgeted income statement includes the following data: Data extracted from budgeted income statement Sales Salaries expense Rent expense Utility expense Insurance expense Depreciation expense Mar Apr May Jun $120,000 $90,000 $95,000 $100,000 30,000 30,000 30,000 30,000 7,000 1,000 3,000 5,000 7,000 7,000 7,000 1,0001,000 1,000 3,0003,000 3,000 5,0005,000 5,000 In addition, 50% of salary expenses are paid in the month incurred and the remaining 50% are paid one month later. Rent expense and utility expenses are assumed to be paid in the same month in which they are incurred. Insurance was prepaid for the year on January 1. How much is the total of the budgeted cash payments for selling and administrative expenses for the month of June?

Explanation / Answer

Total payments for selling and administrative expenses for the month of June = 30000+7000+1000= $38000

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.