Question:

Madden Company provided the following sales information for the month of May:

	April Actual	May Budget
Cash sales	$ 17,550.00	$ 18,000.00
Credit sales	99,000.00	126,000.00
Total sales	$116,550.00	$144,000.00

For credit sales, the collection pattern is as follows:

Month of sales	70%
Month following sales	25%

Based on past experience, the company estimates the remaining credit sales are uncollectible.

Inventory purchases average 70% of the same month's total sales.

Payments for inventory are made as follows:

Month of purchase	40%
Month following purchase	60%

Other expenses are as follows:

Salaries and wages per month	$ 10,440.00
Rent per month	$ 3,600.00
Utilities per month	$ 5,200.00
Insurance per quarter to be paid in May	$ 900.00
Depreciation expenses per month	$ 1,500.00

May 1 cash balance is $9,216.00.

Required:

Cash sales and collections on account for the month are $_____________.

Payments for inventory for the month are $________________.

Payments for all other expenses for the month are $______________.

The ending cash balance at the end of the month is $____________.