ABC company has budgeted the following cost of goods sold January Sales (on Income statement) CGS $120,000 If the cost of goods sold is equal to 30% of sales and the selling price is $80 per unit what are the budgeted sales in dollars and units for each month? a Select one: $120,000 and 1,500 units none of these answers is correct $400,000 and 5,000 units $171,428.57 and 2,142.85 units ABC company has budgeted the following sales. March January Sales (on Income statement) $100,000 February $200,000 $250,000 Cost of goods sold is 60% of sales and the unit cost is $6 per unit The selling price is $10 per unit In addition to having enough units to meet monthly sales, ABC would like ending inventory tobe equal to 10% of the following months sales. Inventory at Dec 31 = $6,000 at a cost of $6 per unit How much inventory in units should ABC buy in January? Select one: 10,000 units 6,000 units 11,000 units 12,000 units ABC company has budgeted the following sales. January February $200,000 Sales (on Income statement) $100,000 Cost of goods sold is 60% of sales and the unit cost is $6 per unit The selling price is $10 per unit In addition to having enough units to meet monthly sales, ABC would like ending inventory to be equal to 20% of the following months sales. Inventory at Dec 31 = $6,000 at a cost of $6 per unit How much inventory in dollars should ABC buy in January? Select one: $130,000 $ 84,000 0 $78,000 $100,000 When preparing a cash budget, deprecation expense is: Select one: O added to selling and administrative expenses o deducted from selling and administrative expenses when the depreciation is paid in cash O neither added or deducted from selling and administrative expenses O deducted from selling and administrative expenses