A sporting equipment store expects to purchase $8,800 of ski boots in October. The store had $2,200 of ski boots in merchandise inventory at the beginning of October and expects to have $1,200 of ski boots in merchandise inventory at the end of October to cover part of anticipated November sales. What is the budgeted cost of goods sold for October?

Question 35 options:

$10,000. $8,800. $3,400. $9,800. $11,000.

Question 36 (3 points)

Webster Corporation is preparing its cash budget for April. The March 31 cash balance is $37,200. Cash receipts are expected to be $649,000 and cash payments for purchases are expected to be $616,500. Other cash expenses expected are $27,800 selling and $34,300 general and administrative. The company desires a minimum cash balance at the end of each month of $38,000. If necessary, the company borrows enough cash to meet the minimum using a short-term note. Webster's preliminary cash balance before loan activity for April is expected to be:

Question 36 options:

$7,600. $30,400. $69,700. $38,000. ($29,600).

A company's history indicates that 30% of its sales are for cash and the rest are on credit. Collections on credit sales are 30% in the month of the sale, 45% in the month following the sale, and 15% in the second month following the sale. Projected sales for January, February, and March are $77,000, $102,000 and $112,000, respectively. The March expected cash receipts from current and prior credit sales is:

Question 38 options:

$52,535 $96,300 $63,735 $74,935 $91,050