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The Ellis Company, a retail company, has budgeted its activity for September according to the following information: Sales are budgeted at $392,000 and all sales are for cash. All purchases of merchandise inventory are for cash. Merchandise inventory was $150,000 on August 31 and the planned merchandise inventory on September 30 is $140,000. All merchandise is sold at 40% above cost. The selling and administrative expenses are budgeted at $92,000 for the month. All of these expenses are paid for in cash except for depreciation of $12,000. 7. The budgeted net income for September is: $20,000. $143,200. а. b. с. d. was siare The budgeted cash disbursements for September are: $140,000. $270,000. $350,000. $362,000. а. b. с. d.

The Ellis Company, a retail company, has budgeted its activity for September according to the following information: Sales are budgeted at $392,000 and all sales are for cash. All purchases of merchandise inventory are for cash. Merchandise inventory was $150,000 on August 31 and the planned merchandise inventory on September 30 is $140,000. All merchandise is sold at 40% above cost. The selling and administrative expenses are budgeted at $92,000 for the month. All of these expenses are paid for in cash except for depreciation of $12,000. 7. The budgeted net income for September is: $20,000. $143,200. а. b. с. d. was siare The budgeted cash disbursements for September are: $140,000. $270,000. $350,000. $362,000. а. b. с. d.

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 34E: A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and...
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The Ellis Company, a retail company, has budgeted its activity for September according to the following information: Sales are budgeted at $392,000 and all sales are for cash. All purchases of merchandise inventory are for cash. Merchandise inventory was $150,000 on August 31 and the planned merchandise inventory on September 30 is $140,000. All merchandise is sold at 40% above cost. The selling and administrative expenses are budgeted at $92,000 for the month. All of these expenses are paid for in cash except for depreciation of $12,000. 7. The budgeted net income for September is: $20,000. $143,200. $112,000. а. b. C. d. was siare The budgeted cash disbursements for September are: $140,000. $270,000. $350,000. $362,000. а. b. с. d.
Transcribed Image Text:The Ellis Company, a retail company, has budgeted its activity for September according to the following information: Sales are budgeted at $392,000 and all sales are for cash. All purchases of merchandise inventory are for cash. Merchandise inventory was $150,000 on August 31 and the planned merchandise inventory on September 30 is $140,000. All merchandise is sold at 40% above cost. The selling and administrative expenses are budgeted at $92,000 for the month. All of these expenses are paid for in cash except for depreciation of $12,000. 7. The budgeted net income for September is: $20,000. $143,200. $112,000. а. b. C. d. was siare The budgeted cash disbursements for September are: $140,000. $270,000. $350,000. $362,000. а. b. с. d.
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