Questions 10 through 13: Use the following information to answer compressed gase

Question

Questions 10 through 13: Use the following information to answer compressed gases to other companies. Data regarding Weldon Industrial Gas Corporation supplies Weldon's operations follow: and s30,00 fon inoun, and the ar bdgcted at $260,000 or November, $320,000 for December and $330,000 for January the month following the sale, and 3% Collections are expected to be 75% in the month of sale, 22% in The cost of goods sold is 76% of sales. uncollectible Th e company following month. M desi esan ending merchandise inventory equal to 80% of the cost ofgoods sold in the t for merchandise is made in the month following tMerchandise is bought on account, and payment for merchandise is ma Other monthly expenses to be paid in cash are $20,400. Monthly depreciation is $15,400. Ignore taxes. I rollections in December?

Explanation / Answer

Budgeted income statement sales 260,000 less cost of goods sold 76% of sales 197600 Gross profit 62400 other monthly expenses 20,400 Depreciation expense 15,400 Net operating income 26,600 option E none of the above

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