Question
3-19 Jaimes Hat Shop sells hats with college logos on them; the hats sell for $22 each. This year, Jaimes expects to sell 350 hats
3-19 Jaimes Hat Shop sells hats with college logos on them; the hats sell for $22 each. This year, Jaimes expects to sell 350 hats in May, 300 in June, 400 in July, 800 in August, 1,040 in September, and 750 in October. On average, 25 percent of its customers purchase on credit. Jaimes allows those customers to pay for their purchases the month after they have made their purchases. Required: Prepare a sales budget for Jaimes Hat Shop for the third quarter of this year.
I'VE ALREADY DONE THIS, JUST NEED HELP WITH THE QUESTION BELOW, THE QUESTION ABOVE (3-19) IS JUST FOR REFERENCE
3-20 Refer to 3-19. Company policy is to plan to end each month with an ending inventory equal to 20 percent of the next months projected sales. Jaimes pays $8 for each hat that it purchases. Jaime and his supplier have an arrangement that allows Jaimes Hat Shop to pay for each purchase 60 days after the purchase.
Required: Prepare a purchases budget for the third quarter of this year for Jaimes Hat Shop.
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