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10. The Butterfly Corporation had the following information that pertained to its March budget: Budgeted sales are $200,000 for February. Collections of sales are 50%
10. The Butterfly Corporation had the following information that pertained to its March budget: Budgeted sales are $200,000 for February. Collections of sales are 50% in the month of sale and 50% the next month. Cost of goods sold averages 70% of sales. Merchandise purchases total $150,000 in February. Marketing costs are $3000 each month. Administrative costs are $15,000 each month. What is the amount budgeted for nonmanufacturing costs in February? What is the budgeted net income for February
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