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Question - A manufacturing? company's budgeted income statement includes the following? data:
Data extracted from budgeted income statement
Mar
Apr
May
Jun
Sales revenue
$120,000
$80,000
$100,000
Commission expense ?(15?% of? sales)
18,000
12,000
15,000
Salaries expense
32,000
Miscellaneous expense-5?% of sales
6,000
4,000
5,000
Rent expense
3,600
Utilities expense
2,100
Insurance expense
2,900
Depreciation expense
4,300
The budget assumes that 40?% of commission expenses are paid in the month they are incurred and the remaining 60?% are paid one month later. In? addition, 50?% of salaries expenses are paid in the same? month, and the remaining 50?% are paid one month later. Miscellaneous? expenses, rent? expense, and utilities expenses are assumed to be paid in the same month in which they are incurred. Insurance has been paid in advance for the year on January 1.
Calculate total budgeted cash payments for selling and administrative expenses for the month of April.
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