Omaha Company's Budget committee provides the following:

Need help with 3 and 4

Omaha Company's budget committee provides the following information: : (Click the icon to view the information.) Read the requirements - X Data table INCYLII CHHICHILL. I IEPAI LIC OLIICULIC VI Lasn pay ICILS FUI pui la SCS TUI Vanuary and I CVIJAI y LU24. ASSULTIC Omaha Company Budgeted Cash Payments for Purchases Two Months Ended February 28, 2024 January 1. Prepare the schedule of cash receipts from customers for January and February 2024. Assume cash receipts are 60% in the month of the sale and 40% in the month following the sale. 2. Prepare the schedule of cash payments for purchases for January and February 2024. Assume purchases are paid 70% in the month of purchase and 30% in the month following the purchase. 3. Prepare the schedule of cash payments for selling and administrative expenses for January and February 2024. Assume 40% of the accrual for Salaries and Commissions Payable is for commissions and 60% is for salaries. The December 31 balance will be paid in January. Salaries and commissions are paid 60% in the month incurred and 40% in the following month. Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount. 4. Prepare the cash budget for January and February 2024. Assume no financing took place. $ 34,000 14,000 24,000 30% of last month's purchases $ February 12,090 29.190 13,000 $ 28,210 70% of current month's purchases 13,000 2,600 $ 41,210 $ 41,280 Total cash payments for purchases Requirement 3. Prepare the schedule of cash payments for selling and administrative expenses for January and paid 60% in the month incurred and 40% in the following month. Rent and income tax expenses are paid as incu and 60% is for Jole number.) December 31, 2023, account balances: Cash Accounts Receivable Merchandise Inventory Accounts Payable Salaries and Commissions Payable Budgeted amounts for 2024: Sales, all on account Purchases, all on account Commissions Expense Salaries Expense Rent Expense Depreciation Expense Insurance Expense Income Tax Expense January February 82,000 $ 83,200 40,300 41,700 4,100 4,160 Print Done Omaha Company Budgeted Cash Payments for Selling and Administrative Expenses Two Months Ended February 28, 2024 January February 4,500 4,500 1,800 1,800 800 800 400 400 $ 1,800 1,800 1,040 $ 2,460 1,640 2,496 3,500 4,136 Variable expenses: 40% of last month's Commission Expense 60% of current month's Commission Expense Total payments for variable expenses Fixed expenses 40% of last month's Salaries Expense 60% of current month's Salaries Expense Rent expense Total payments for fixed expenses Print Done 1040 1.800 2,700 1,800 2,700 1,800 5540 6.300 9040 10,436 Total payments for S and A expenses