) Dry Fruit Grocers a local grocer has budgeted inventory purchases as follows: October: $300,000 November: $350,000 December: $390,000 Dry Fruit Grocers pays for 20% of their purchases during the month of purchase, 70%during the month following the purchase, and the remaining 10% two months after the month of purchase. What is the budgeted accounts payable balance on December 31?

A) $312,000 B) $347,000

C) $390,000

D) $425,000

A manufacturing company's budgeted income statement includes the following data: Data extracted from budgeted income statement Mar A r Ma Jun ales $120,00 $90,00 $95,00 $100,00 Commission ex ense (15% of sales) 18,0 13,50 14,25 15,0 alaries ex erase 30,0 30,00 30,00 30,00 iscellaneous ex erase-4% of sales 4,80 3,60 3,80 4,00 ent ex erase 3,60 3,60 3,60 3,60 tili ex erase 1,90 1,90 1,90 1,90 surance ex erase 2,10 2,10 2,10 2,10 e reciation ex erase 4,40 4,40 4,40 4,40 The budgefi assumes that 60% of commission expenses are paid in the month they were incurred and the remaining 40%are paid one month later. In addition, 50% of salary expenses are paid in the month incurred and the remaining 50%are paid one month later. Miscellaneous expenses, rent expense and utility expenses are assumed to be paid in the same month in which they are incurred. Insurance was prepaid for the year on January 1. How much is the total of the budgeted cash payments for selling and administrative expenses for the month of May?

A) $54,200 B) $53,250 C) $54,400 D) $53,900