(Answered) Question 1 the budgeted sales for the first quarter are

Accounting

Question 1) The budgeted sales for the first quarter are listed below.

January February March Total for Quarter

Budgeted Sales 270,000 360,000 450,000 1,080,000

Additional information:

Sales commissions equal 20% of sales and are paid each month.
Sales salaries (excluding commission) are $90,000 per year.

What are the total selling expenses for the quarter?

Q2) Expected cash collection pattern is 60% in the month of sale and 40% in the following month. Given the sales budget presented below, how much cash is expected to be collected in January?

October November December January

Budgeted Credit Sales 40,000 50,000 60,000 35000

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