ABC company has budgeted the following sales. January February March Sales (on Income statement) $100,000 $200,000 $250,000 Cost of goods sold 70% of sales 70% of sales 70% of sales What is the gross profit in $ for each month? Select one: O January $70,000; February $140,000; March $175,000 O none of the answers is correct O January $50,000; February $90,000; March $105,000 January $30,000; February $60,000; March $75,000 ABC company has budgeted the following sales. February January $100,000 Sales (on Income statement) $150,000 Cost of goods sold is 40% of sales and the unit cost is $10 per unit As a policy ABC does not maintain any inventories of finished goods. How much inventory in units is needed to satisfy each month sales? Select one: none of these answers is correct O January 10,000 units; February 15,000 units January 4,000 units; February 6,000 units January 40,000 units; February 60,000 units ABC company has budgeted the following sales. January Sales (on Income statement) $140,000 The selling price is $10 per unit If the cost of each unit sold is $6 what is the budgeted cost of goods sold for January? Select one: O $56,000 O $140,000 O not enough information is given $84,000 O ABC company has budgeted the following sales. January February Sales (on Income statement) $100,000 $200,000 Sales are 80% credit and 20% cash Credit sales are collected 50% in the month of sale and 50% in the month following the sale A/R at Dec 31 = $85,000 What are the cash collections for January and February ? Select one: none of the answers is correct $60,000 for January and $120,000 for February $125,000 for January and $120,000 for February $145,000 for January and $160,000 for February