Help Save & Exit You have just been hired as a new management trainee by E in shopping malls across the country. In the past, the company has done year has experienced a shortage of cash. Since you are wel the upcoming second quarter. To this end, you have worked with accounting and other areas to gather the information assembled below The company sells many styles of earrings, but all are sold for the same price-$17 per pair. Actual sales of earrings for the last three months and budgeted sales for the next six months follow (n pairs of earrings) arrings Unlimited, a distributor of earrings to various retail outlets located ry little in the way of budgetin and at certain times of the I trained in budgeting. you have decided to prepare a master budget for January (actual) 23,600 June (budget) 53,600 February (actual) 29,600 July (budget) 33,6e0 March (actual) 43,600 August (budget) 31,680 April (budget) 68,600 September (budget) 28,60e May (budget) 103,600 The concentration of sales before and during May is due to Mother's Day Sufficient inventory should be on hand at the end of each to supply 40% of the earrings sold in the following month. Suppliers are paid $5.80 for a pair of earrings. One-half of a month's purchases is paid for in the month of purchase;, the other haif is month. All sales are on credit Only 20% of a month's sales are collected in the month of sale. An additional paid for in the following 70% is collected in the following month, and negligible Monthly operating expenses for the company are given below the remaining 10% is collected in the second month following sale Bad debts have been Variable: Prev 2of 2 e to search