12 2 A 456 B 7 Cash sales 8 Credit sales 9 Total sales Budget 3...

 

Transcribed Image Text:

12 2 A 456 B 7 Cash sales 8 Credit sales 9 Total sales Budget 3 Data Input 4 The sales budget for the nine months ended September 30 follows Quarter Ended Jun-30 с Mar-31 $ 40,000 $ $ 97,500 $ $ 137,500 $ D Sep-30 E Nine-month Total 52,890 $ 43,456 $ 56,456 $ 76,000 $ 109,346 $ 119,456 $ 136,346 229,956 366,302 F LL 47,890 10 11 In the past, the cost of goods sold has always been 60% of total sales. 12 The director of marketing, the production manager, and the vice-president agree that 13 ending inventory should not go below $ 35,000 plus 30% 14 of cost of goods sold for the following quarter. Expected sales are $ 15 during the fourth quarter. Beginning inventory was $ 16 17 Required: 18 Prepare a budget showing purchases, cost of goods sold and inventory for the nine 19 months ended 30 September. 20 120,000 (2) G 12 2 A 456 B 7 Cash sales 8 Credit sales 9 Total sales Budget 3 Data Input 4 The sales budget for the nine months ended September 30 follows Quarter Ended Jun-30 с Mar-31 $ 40,000 $ $ 97,500 $ $ 137,500 $ D Sep-30 E Nine-month Total 52,890 $ 43,456 $ 56,456 $ 76,000 $ 109,346 $ 119,456 $ 136,346 229,956 366,302 F LL 47,890 10 11 In the past, the cost of goods sold has always been 60% of total sales. 12 The director of marketing, the production manager, and the vice-president agree that 13 ending inventory should not go below $ 35,000 plus 30% 14 of cost of goods sold for the following quarter. Expected sales are $ 15 during the fourth quarter. Beginning inventory was $ 16 17 Required: 18 Prepare a budget showing purchases, cost of goods sold and inventory for the nine 19 months ended 30 September. 20 120,000 (2) G

Answer rating: 100% (QA)

Budget showing Purchases cost of goods sold and inventory for the nine ... View the full answer