QUESTION 42 SATTERFIELD-MICKEY COMPANY: Satterfield-Mickey Company has been preparing monthly cash budgets since b job assignment is to prepare a cash budget for April and for May 2018 y has been preparing monthly cash budgets since business activity slowed down a month or so ago Your The following information has been provided April May Revenue from sales Direct material purchases Direct labor Manufacturing overhead Selling and administrative expenses $700,000 233,000 175.000 136,100 153,610 $780,000 243,750 195,000 140,625 165,750 Relevant information a All sales are on account b Collections are expected to be 50% in the month of the sale, 35% in the first month following the sale, and 15% in the second month following the sale month following the purchase Alother tems listed above are paid in the month incurred except for selling and administrative expenses that includes $5,000 materials purchases are paid in cash in the month of purchase, and the balance due is paid in the depreciation per month ve and submit