#12

Thomas Corporation recorded sales of $220, 000 during March. Management expects sales to increase 5% in April, another 4% in May, and another 25% in June. Cost of goods sold is expected to be 80% of sales. What is the budgeted gross profit for June? A. $176, 000 B, $275, 000 C. $300, 300 D. $60, 060