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What are the total selling expenses for the quarter

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Reference no: EM131723528

Question 1) The budgeted sales for the first quarter are listed below.

                                      January        February         March      Total for Quarter

Budgeted Sales                270,000        360,000             450,000     1,080,000

Additional information:

  • Sales commissions equal 20% of sales and are paid each month.
  • Sales salaries (excluding commission) are $90,000 per year.

What are the total selling expenses for the quarter?

Q2) Expected cash collection pattern is 60% in the month of sale and 40% in the following month. Given the sales budget presented below, how much cash is expected to be collected in January?

                                         October            November           December              January

Budgeted Credit Sales         40,000               50,000                   60,000                  35000

Reference no: EM131723528

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