O'Hare Company is in the process of preparing a purchases budget for the first quarter of...
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O'Hare Company is in the process of preparing a purchases budget for the first quarter of 2014. The company has budgeted sales as follows: December, 2013 January, 2014 February, 2014 March, 2014 24 44,000 24 46,500 2$ 51,000 2$ 61,500 Cost of goods sold is expected to be 75% of sales. The company would like to have ending inventory each month equal to 25% of the following month's predicted cost of sales. The total cost of purchases in January is: O $59,250. O $44.438. O $35,719. O $46,500. O'Hare Company is in the process of preparing a purchases budget for the first quarter of 2014. The company has budgeted sales as follows: December, 2013 January, 2014 February, 2014 March, 2014 24 44,000 24 46,500 2$ 51,000 2$ 61,500 Cost of goods sold is expected to be 75% of sales. The company would like to have ending inventory each month equal to 25% of the following month's predicted cost of sales. The total cost of purchases in January is: O $59,250. O $44.438. O $35,719. O $46,500.
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Answer Option D is correct 46500 The budget is created ... View the full answer
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