Janus Products, Inc. is a merchandising company that sells binders, paper, and other school supplies T company is planning its cash needs for the third quarter. In the past, Janus Products has had to borrow money during the third quarter to support peak sales of back-to-school materials, which occur during August. The following information has been assembled to assist in preparing a cash budget for the quart a Budgeted monthly absorption costing income statements for July to October are as follows August September October 44,40032,400 29,400 31,60023,600 21,600 Sales $46,000 $76,000 $56,000 $51,000 Cost of goods sold Gross margin Selling and administrative expenses 26 400 19,600 9,000 Selling expense Administrative expense" 12,900 7,800 9,100 6.700 7900 6 500 5,950 14,950 120,70015,80014,400 Total selling and administrative expenses s 4650 S10,900 7,800 $ 7.200 Net operating income includes $2.300 depreciation each month Sales are 20% for casn and 80% on credit Credit sales are collected over a three month period with 10% collected in the month of sale 70% ,n the month folowing sale and 2010 b c the second month fol