1 Expected monthly sales for April May June, and July are $220,000 $190,000, $310,000, and $90,000, respectively 2 Cost of goods sold is 30 percent of expected sales 3 CGC's desired ending inventory is 20 percent of the following month's cost of goods sold 4 Monthly operating expenses are estimated to be Salaries $30,000 Delivery expense 4 percent of monthly sales Rent expense on the warehouse $4,500 Utilities $800 Insurance $175 Other expenses $260 Required 1 Compute the budgeted cost of purchases for each month in the second quarter 2 Complete the budgeted income statement for each month in the second quarter Complete this question by entering your answers in the tabs below Required 1 Required 2 Compute the budgeted cost of purchases for each month in the second quarter April May June Total Cost of Budgeted Purchases X This is a numeric cell, so please enter numbers only Required 2

Question

1  Expected monthly sales for April May June, and July are $220,000  $190,000, $310,000, and $90,000, respectively  2  Cost of goods sold is 30 percent of expected sales  3  CGC's desired ending inventory is 20 percent of the following month's cost of goods sold  4  Monthly operating expenses are estimated to be  Salaries  $30,000  Delivery expense  4 percent of monthly sales  Rent expense on the warehouse  $4,500  Utilities  $800  Insurance  $175  Other expenses  $260  Required  1  Compute the budgeted cost of purchases for each month in the second quarter  2  Complete the budgeted income statement for each month in the second quarter  Complete this question by entering your answers in the tabs below  Required 1 Required 2 Compute the budgeted cost of purchases for each month in the second quarter  April May June Total Cost of Budgeted Purchases X This is a numeric cell, so please enter numbers only  Required 2

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1. Expected monthly sales for April May June, and July are $220,000. $190,000, $310,000, and $90,000, respectively. 2. Cost of goods sold is 30 percent

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