Question 17 Funnel Manufacturing Company has provided the follwolng information: Budgeted Month Sales 76,000 85,000 92,000 April Budgeted selling and Administrative Expenses Per Month are as follows: Wages, $15,000 Advertising, $12,000 Depreciation, $3,000 Other, 4 percent of Sales Cost of Goods Sold is 60% of Sales. All inventory is purchased in the month it is sold. Inventory purchases are paid 2/3 in the month of purchase, the remaining 1/3 paid in the following month. The budgeted net income for February would be: Oa S600 Ob $7,000 Oc, $5,300 C d $3,000