https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fcincinna... A> Case 2, Part 1 i Saved Help Save & Exit Submit Check my work You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for 100 the upcoming second quarter. To this end, you have worked with accounting and other areas to gather the information assembled points below. The company sells many styles of earrings, but all are sold for the same price-$14 per pair. Actual sales of earrings for the last three eBook months and budgeted sales for the next six months follow (in pairs of earrings). Print January (actual) 21, 600 June (budget) 51, 600 References February (actual) 27 , 600 July (budget) 31, 600 March (actual) 41, 600 August (budget) 29, 600 April (budget) 66, 600 September (budget) 26, 600 May (budget) 101, 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 month to supply 40% of the earrings sold in the following month. Suppliers are paid $4.80 for a pair of earrings. One-half of a month's purchases is paid for in the month of purchase; the other half is paid for in the following month. All sales are on credit. Only 20% of a month's sales are collected in the month of sale. An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Bad debts have been negligible. Monthly operating expenses for the company are given below: Mc Graw Prey 1 of 1 Next Hill 5:09 O amazon Type here to search B. 75OF ~0 0 ENG 18388 7/24/2