23) A manufacturing company's budgeted income statement includes the following dat Apr Mar May Jun SINO COSTOSO JITI 12.0 Data extracted from budgeted income statement Sales revenue Commission expense (10% of sale) Salaries expense Miscellaneous expense of sales Rent expense Utilities expense Insurance expense Depreciation expense 900 1.IO T1000 13,000 1000 11,000 KO 3700 2000 400 WUD 2000 2400 001 3200 200 3700 2KO 2900 4500 4500 00 The budget assumes that 60% of commission expenses are paid in the month they were incurred, and the remaining 40% are paid one month later. In addition, 50% of salaries expenses are paid in the month incurred 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 was prepaid for the year on January 1. How much is the total of the budgeted cash payments for selling and administrative expenses for the month of May? A) $56,600 B) $45,200 $50,900 D) $54,600 24) Clyde, Inc. has a cash balance of $20,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows: 24) Apr $24,000 May $24,000 Jun $24,000 Cash collections Cash payments: Purchases of direct materials Operating expenses 6000 3500 5800 5000 5000 4600 There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of April. A) $44,000 B) $38,000 $34,500 D) $24,000 25) Calder Water Company has budgeted direct materials inventory purchases as follows: October: $300,000 November: $360,000 December: $460,000 Calder pays for 20% of their purchases during the month of purchase, 70% during the month following the purchase, and the remaining 10% two months after the month of purchase. What is the budgeted accounts payable balance on December 31? A) $404,000 B) $440,000 $460,000 D) $368,000