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31) Camellia, a merchandising company, has provided the following extracts from their budget for the first quarter of the forthcoming year 31) Feb Jan $500,000 March $750,000 $1,000,000 Sales (20% cash) The company collects 70 % of credit sales in the same month and the balance in the next month. Calculate the collections from the customers for the month of February A) $690,000 B) $750,000 C) $570,000 D) $540,000 32) Saniya Corp. is preparing their budget for the second quarter and provides the following data: May Apr $20,000 Jun Budgeted purchases of direct materials Budgeted Cash Payments for Purchases of direct materials 60% of previous month purchases 40% of current month purchases $24,000 $23.000 Jun $14,400 9200 $23,600 Apr $6,000 8000 $14,000 May $12.000 9600 $21.600 Total cash payments Assume that accounts payable pertains only to suppliers of direct materials inventory. Based on the above data, the amount of Accounts Payable that should be shown in the budgeted balance sheet as of June 30 is D) $23,600 C) $9200 B) $14,400 A) $13,800 33) 33) When preparing the budgeted balance sheet of a merchandising company, the amount of Merchandise Inventory can be obtained from the A) inventory, purchases, and cost of goods sold budget B) merchandise inventory account C) production budget D) capital expenditure budget and cash budget 34) 34) The amount of accumulated depreciation for the budgeted balance sheet of a merchandising A) selling and administrative expense budget and the prior balance sheet B) cash budget C cash payments for selling and administrative expense budget D) financial budget company can be obtained from the 35) Alphonse Company manufactures staplers. The budgeted sales price is $14.00 per stapler, the variable costs are $3.00 per stapler, and budgeted fixed costs are $10,000. What is the budgeted aperating income for 4300 staplers? A) $37,300 D) $12,900 C) $60,200 B) $47,300