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Grinnell Manufacturing Company has the following information for 2015: Month Budgeted Sales January $76,000 February 85,000 March 92,000 April 79,000 Budget Expenses per Month Wages
Grinnell Manufacturing Company has the following information for 2015:
Month | Budgeted Sales |
January | $76,000 |
February | 85,000 |
March | 92,000 |
April | 79,000 |
Budget Expenses per Month
Wages | $15,000 |
Advertising | 12,000 |
Depreciation | 3,000 |
Other | 4 percent of sales |
Note: All cash expenses are paid as incurred; Collections from sales are 50% in the month of sale and 50% in the month following the sale; December 2014 sales were $110,000. What is the budgeted net operating income for the first quarter of 2015?
$140,560 | ||
$172,160 | ||
$123,640 | ||
$152880 | ||
$135,280 |
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