The company is in the process of preparing a budget for October and has assembled the following data: 1. Sales are budgeted at $580,000 for October and $590,000 for November. Of these sales, 35% will be for cash; the remainder will be credit sales. Forty percent of a month's credit sales are collected in the month the sales are made, and the remaining 60% is collected in the following month. All of the September 30 accounts receivable will be collected in October. 2. The budgeted cost of goods sold is always 45% of sales and the ending merchandise inventory is always 30% of the following month's cost of goods sold. 3. All merchandise purchases are on account. Thirty percent of all purchases are paid for in the month of purchase and 70% are paid for in the following month. All of the September 30 accounts payable to suppliers will be paid during October. 4. Selling and administrative expenses for October are budgeted at $87,800, exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $2,680 for the month. Required: 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31. 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31 . 4. Selling and administrative expenses for October are budgeted at $87,800, ex cash. Depreciation is budgeted at $2,680 for the month. Required: * 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31. 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made a month, (2) the ending merchandise inventory is always 10% of the following mont are paid for in the month of purchase and 80% are paid for in the following mont the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31. Complete this question by entering your answers in the tabs below. Prepare the budgeted cash collections for October. month's cost of goods sold. 3. All merchandise purchases are on account. Thirty percent of all purchases are for in the following month. All of the September 30 accounts payable to suppl 4. Selling and administrative expenses for October are budgeted at $87,800, exc cash. Depreciation is budgeted at $2,680 for the month. Required: - 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31. 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made ar month, (2) the ending merchandise inventory is always 10% of the following mont are paid for in the month of purchase and 80% are paid for in the following month the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31. Complete this question by entering your answers in the tabs below. Prepare the budgeted merchandise purchases for October. 2. Ine vuageted cost or goous soid is arways 4D\% or saies and ine enaing mercnanaise invei month's cost of goods sold. 3. All merchandise purchases are on account. Thirty percent of all purchases are paid for in th for in the following month. All of the September 30 accounts payable to suppliers will be pa 4. Selling and administrative expenses for October are budgeted at $87,800, exclusive of dep cash. Depreciation is budgeted at $2,680 for the month. Required: - 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31 . 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and the remain month, (2) the ending merchandise inventory is always 10% of the following month's cost of go are paid for in the month of purchase and 80% are paid for in the following month. Using these the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31. Complete this question by entering your answers in the tabs below. Prepare the budgeted cash disbursements for merchandise purchases for October. Budgeted cash disbursements for merchandise purchases for October 4. Ine buggeted cost or goous suid is arways 40% or sales and the ending merchang month's cost of goods sold. 3. All merchandise purchases are on account. Thirty percent of all purchases are pai for in the following month. All of the September 30 accounts payable to suppliers 4. Selling and administrative expenses for October are budgeted at $87,800, exclusi cash. Depreciation is budgeted at $2,680 for the month. Required: - 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31 . 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and th month, (2) the ending merchandise inventory is always 10% of the following month's are paid for in the month of purchase and 80% are paid for in the following month. U the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31. Complete this question by entering your answers in the tabs below. Prepare the budgeted net operating incomleviv 10 ctober. are paid for in the month of purchase and 80% are paid for in the followin the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for Octs d. Net operating income for the month of October. e. A budgeted balance sheet at October 31 . Complete this question by entering your answers in the tabs below. Prepare a budgeted balance sheet at October 31. 4. Selung and administrative expenses tor Uctober are budgeted at $8/,8, exciusive or depreciation. Inese expenses wil cash. Depreciation is budgeted at $2,680 for the month. Required: 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31 . 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the follo month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all pur are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate o the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31 . Complete this question by entering your answers in the tabs below. Prepare the budgeted cash collections for October. Assume that 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. 4. selling and administrative expenses tor Uctober are budgeted at $81,8, exciusive or depreciation. I hese expense cash. Depreciation is budgeted at $2,680 for the month. Required: 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31. 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of a are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calcul the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31. Complete this question by entering your answers in the tabs below. Prepare the budgeted merchandise purchases for October. Assume that 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31 . Complete this question by entering your answers in the tabs below. Prepare the budgeted cash disbursements for merchandise purchases for October. Assume that 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. Budgeted cash disbursements for merchandise purchases for October 4. Seling and administrative expenses tor Uctober are budgeted at $8/,80, exclusive of depreciation, Inese expenses wii cash. Depreciation is budgeted at $2,680 for the month. Required: 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31 . 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the follo month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all pur are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31. Complete this question by entering your answers in the tabs below. Prepare the net operating income for the month of October. Assume that 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31. Complete this question by entering your answers in the tabs below. Prepare a budgeted balance sheet at October 31. Assume that 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month