Annapolis, Inc. has forecast $50,000 of sales in January, $55,000 in February, and $60,000 in March. Selling and administrative expenses include: . . Utilities: $800 per month + 40% of Sales Sales commissions: 5% of Sales Salaries: $9,000 per month Office rent: $5,000 per month Computer depreciation: $1,200 per month Calculate the total selling and administrative expenses for January: A. $43,000 B. $41,700 C. $47,500 D. $38,500 QUESTION 8 Boston, Inc. had budgeted $40,000 of sales in June, $50,000 of sales in July, and $60,000 of sales in August. Past experience indicates that 40% of the firm's sales are received in cash in the month of sale and the other 60% are collected in the month following the sale. Calculate expected cash collections for July. A. $44,000 B. $50,000 C. $54,000 D. $36,000