The marketing department is responsible for the following:

• Managing the firm's marketing
• Hiring subcontractors
• Selling the consulting expertise to smaller outside firms

The department's expenses are as follows:

• Salaries and benefits of $48,000/month
• Web site operations of $21,000/ month
• Online advertising expenses of $15,000/month
• Miscellaneous expenses of $3,500/month

The sales forecast for its consulting services are as follows:

• April:$190,000
• May:$200,000
• June:$205,000

The department pays a sales commission of 5%, and this is paid in the following month. Subcontractor expenses are estimated at 45% of sales and are paid the month after they are billed. Consulting fees are collected 20% in the month of sale, 70% in the following month, and 10% in the second month following sale.

Market Department Master Budget - June(complete the below schedules)

June

Consulting Revenues

Less: Commissions

Less: Subcontractor expenses

Net revenues

Expenses

Salaries and benefits

Web site operations

Online advertising expenses

Other misc. expenses

Total expenses

Net department expenses

Expected Cash Collections

June collections on account:

April sales

May sales

June sales

Total cash collections

Expected Cash Disbursements

Salaries and benefits

Web site operations

Other misc. expenses

Online advertising expenses

Sales commissions (5% of sales)

Cost of sales (45% of sales)

Total cash disbursements

Net impact on cash