Sales: 60,000 tins per quarter

Variable costs per dollar of sales: sales commissions 5%, delivery expense .5%, and advertising 1.5%.

Fixed costs per quarter: sales salaries $40,000, office rent $1,500, utilities $1,200, and repairs expense $200.

Selling price: $10 per tin

What is the budgeted total selling and administrative expenses for the quarter?

Sales are 30% cash and 70% on credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale. Sales were December $180,000; January $220,000; February $250,000; and March $300,000.

What was total cash received in March?