Chapter 21 an x /lhameir%20Lambert/AppData/local/Packages/Microsoft MicrosoftEdge_Bwekybadebbwe/TempState/Downloads/Chapter%2021%20and%20ch - + fit to page Page view A Read aloud 13) TRUE FALSE. Write T if the statement is true and F if the statement is false. 13) A manufacturing budget shows dollar amounts estimated to be spent to purchase additional plant assets and amounts expected to be received from plant asset disposals 14) 14) Continuous budgeting is the practice of revising the entire set of budgets for the periods remaining and adding new budgets to replace those for the periods that have elapsed MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 15) 15) Wichita Industries sales are 10% cash and 90% on credit Credit sales are collected as follows: 30% in the month of sale, 50% in the next month, and 20% in the following month On December 31, the accounts receivable balance includes $12,000 from November sales and S42,000 from December sales. Assume that total sales for January are budgeted to be $50,000. What are the expected cash receipts for January from the current and past sales? A) 551.900. B) $18,500. C) 560,500 D ) 551.500 E) $55,500. 16) 16) A sporting equipment store expects to purchase $8,000 of ski boots in October. The store had $2,000 of ski boots in merchandise inventory at the beginning of October, and expects to have $3.000 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 A) 58,000. B) 55,000. C) 59,000. D) $10,000 E) $7,000