can I get help with 16 15) Whitaker Company budgets payroll at $3,000 per month

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can I get help with 16

15) Whitaker Company budgets payroll at $3,000 per month plus a percentage of monthly sales. The 15) June operating expense budget includes total payroll of $10,500 with budgeted sales of $150,000. Sales for July are budgeted at $165,000, while purchases of inventory for July are budgeted at $85,000. Depreciation and insurance for July are estimated at $750 and $500, respectively. Expenses related to purchasing inventory are budgeted at 5% of purchases for the month. The purchase of $3,000 in equipment and S1,200 in furniture is expected in July What are the total operating expenses budgeted for July? A) $21,250 B) $16,750 C) $20,950 D) $17,050 16) 16) Bolin's, an elite clothier, expects its November sales to be 30% higher than its October sales of $200,000. Purchases were $100,000 in October and are expected to be $150,000 in November. All sales are on credit and are collected as follows: 30% in the month of the sale and 70% in the following month. Purchases are paid 25% in the month of purchase and 75% in the following month. The cash balance on November 1 is $9,000. What will be the cash balance on November 30? B) $87,000 C) $140,000 D) $149,000 A) $114,500 17 7) Miller company's budgeted variable selling and administrative expenses are $8.50 per unit sold. 5,000 units during April, and budgeted selling and administrative fixed Miller's budgeted sales are costs are $47,000 for the month, which includes depreciation expense of $7,000. What are Miller's budgeted cash disbursements for selling and administrative expenses? B) $89,500 C) $82,500 D) $47,000 4) 540 000

Explanation / Answer

Sales for november : 200000(1+.30 ) = 260000

Cash collection for november: [260000*.30]nov sales +[200000*.70] oct sales

       = 78000+140000

       = 218000

payment for purchase = [150000*.25]+[100000*.75]

             = 37500+ 75000

              = 112500

cash balance at nov = 9000beginning + 218000-112500 = 114500

correct option isA""

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