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Modesto Company produces and sells Product AlphaB. To guard against stockouts, the company requires that 20% of the next month's cost of goods sold be

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Modesto Company produces and sells Product AlphaB. To guard against stockouts, the company requires that 20% of the next month's cost of goods sold be on hand at the end of each month. Budgeted cost of goods sold of Product AlphaB over the next four months are: June July August September Budgeted Cost of Goods Sold 40,000 50,000 60,000 30,000 Budgeted inventory purchases for August would be: (Please DO NOT include a dollar sign ($) in you answer) Suppose that a company has the following accounts receivable collection pattern: Paid in the month of sale 70% Paid in the month following sale 30% All sales are on credit. If credit sales for January and February are $200,000 and $100,000 respectively, the cash collections for February would be: (Please DO NOT Include a dollar sign ($) in your answer.) Modesto Company produces and sells Product AlphaB. To guard against stockouts, the company requires that 20% of the next month's cost of goods sold be on hand at the end of each month. Budgeted cost of goods sold of Product AlphaB over the next four months are: June July August September Budgeted Cost of Goods Sold 30,000 50,000 60,000 40,000 Budgeted inventory purchases for July would be: (Please DO NOT include a dollar sign ($) in you answer) Suppose that a company has the following accounts receivable collection pattern: Pald in the month of sale 30% Paid in the month following sale 70% All sales are on credit. If credit sales for January and February are $200,000 and $100,000 respectively, the cash collections for February would be: (Please DO NOT Include a dollar sign ($) in your answer.) The following budget information is available for the Carvilla Company for January 2004: Sales Cost of goods sold Freight out Administrative salaries Sales commissions Advertising Depreciation on store equipment Rent on administration building Miscellaneous administrative expenses $400,000 $270,000 $0.25 per unit $50,000 5% of sales $10,000 $25,000 $30,000 $5,000 All operating expenses are paid in cash in the month incurred. The company expects to sell 5,000 inventory units in January. The total budgeted selling and administrative expenses (excluding interest) would be what amount for January 2004

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