1V1 Individual First Name Begins with Help Save & Ch Janus Products, Inc. is a merchandising company that sells binders, paper, and other school supplies. The company is planning its cash needs for the third quarter. In the past, Janus Products has had to borrow money during the third quarter to support peak sales of back-to-school materials, which occur during August. The following information has been assembled to assist in preparing a cash budget for the quarter a. Budgeted monthly absorption costing income statements for July to October are as follows: July $48.000 27. Zee 28.800 August $78,000 45,200 32,880 September 558,000 33,200 24.800 October $53,000 30,200 22,880 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expense Administrative expense Total selling and administrative expenses Net operating income 9,600 6,050 25.650 $ 5,150 13,300 8.000 21,300 $11,500 9,300 6.900 16,200 $ 8,600 8.100 6,700 14,800 $ 8,000 "Includes $2.400 depreciation each month h R b Sales are 20% for cash and 80% on credit c Credit sales are collected over a three-month period, with 10% collected in the month of sale, 70% in the month following sale and Prey 1 of 1 Nex! 1V1 Individual First Name Begins with Help Save & Ch Janus Products, Inc. is a merchandising company that sells binders, paper, and other school supplies. The company is planning its cash needs for the third quarter. In the past, Janus Products has had to borrow money during the third quarter to support peak sales of back-to-school materials, which occur during August. The following information has been assembled to assist in preparing a cash budget for the quarter a. Budgeted monthly absorption costing income statements for July to October are as follows: July $48.000 27. Zee 28.800 August $78,000 45,200 32,880 September 558,000 33,200 24.800 October $53,000 30,200 22,880 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expense Administrative expense Total selling and administrative expenses Net operating income 9,600 6,050 25.650 $ 5,150 13,300 8.000 21,300 $11,500 9,300 6.900 16,200 $ 8,600 8.100 6,700 14,800 $ 8,000 "Includes $2.400 depreciation each month h R b Sales are 20% for cash and 80% on credit c Credit sales are collected over a three-month period, with 10% collected in the month of sale, 70% in the month following sale and Prey 1 of 1 Nex