QUESTION 21 Thornton, Inc. has budgeted sales for the months of September and October at $303,000 and $289,000, respectively. Monthly sales are 80% credit and 20% cash. Of the credit sales, 50% are collected in the month of sale, and 50% are collected in the following month. Calculate cash collections for the month of October $297,400 $173,400 O $294,600 $181,800 QUESTION 22 Zelia, Ino, has prepared the operating budget for the first quarter of the year. The company forecast sales of $50,000 in January, $60,000 in February, and $70,000 in March. Variable and fixed expenses are as follows: Variable Expenses Power cost (20% of sales) Miscellaneous expenses: (5% of sales) Fixed Expenses Salaries expense: $8000 per month! Rent expense: $6000 per month Depreciation expense: $1400 per month Power cost/fixed portion: $500 per month Miscellaneous expenses/fixed portion $1000 per month Using the information above, calculate the amount of budgeted selling month of February $28.400 $30,000 $33,400 $15,000