B ellmor Products is preparing its budget for January, February and March 2021, and has collected and assembled the ollowing information and assumptions for its income tatement and cash flow budgets: Budgeted Sales and Cost of Goods Sold Unit Sales Selling Price, per unit Cost of Goods Sold, per unit B Budgeted monthly operating expenses 9 Salanes Expenses 0 Other Fixed Expenses 51 Depreciation Expense 2 Variable Selling Expense 63 64 January February March April 3,500 3,000 4.200 3.200 $30.00 $30.00 $31.00 $32.00 17.00 17.00 17.00 17.00 $16,000 per month $10,000 per month 12.049 per month 15% of the month's sales $ 65 56 67 Cash collections of Sales Revenue: 68 Accounts Finceivable balance. December 31, 2019 69 Percentage of Sales collected in month of sale 70 Percentage of Sales collected in month following the sale 71 72 23 Cash payments on Cost of Goods Sold: 74 Accounts Payable balance, Decerober 31, 2019 75 Percentage of COGS paid for in month incurred i Test $70.000 (all of which is to be collected in January 45% 55% $45.000 (all of which is to be paid in January 25% of COGS Ready Type here to search G Depreciation Expense Vanable Selling Expense 50.000 per month $2.049 per month 15% of the month's sales $ Cash collections of Sales Revenue: S8 Accounts Receivable balance. December 31, 2019 69 Percentage of Sales collected in month of sale 70 Percentage of Sales collected in month following the sale 71 72 73 Cash payments on Cost of Goods Sold 74 Accounts Payable balance, December 31, 2019 75 Percentage of COGS paid for in month incurred 76 Percentage of COGS paid for in following month 77 78 Cash payments on operating expenses 79 80 Other cash flow info 81 Cash dividends paid per month 82 Equipment purchase for cash 83 Equipment purchase for cash 04 65 85 Operating Line of Credit 87 Minimum end of month cash balance desired be Annual Interest on borrowed cash 90 91 92 $70,000 (all of which is to be collected in January) 45% 55% $45.000 tall of which is to be paid in January! 25% of COGS 75% of COGS Paid for (as applicable) in the month incurred $2.000 per month $12.000 in January $4.09 in February $15.000 4% Paid when principle is repaid Any amounts borrowed are borrowed at the beginning of the month. There is no minimum borrowing increments Any bank loan amounts (and interest) repaid are repaid at the end of the month Ready Test Type here to search D T