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Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales monager has provided a sales forecast for the coming year, along with the following information: - Each T-shirt is expected to sell for $22. - The purchasing manager buys the T-shirts for $9 each. - The company needs to hove enough T-shirts on hand at the end of each quarter to fill 32 percent of the next quarter's sales demand. - Selling and administrative expenses are budgeted at $94,000 pet quarter plus 10 percent of total sales revenue. Required: 1. Determine budgeted soles revenue for each quarter. 2. Determine budgeted cost of merchandise purchased for each quarter. 3. Determine budgeted cost of good sold for each quarter. 4. Determine selling and administrative expense for each quarter. 5. Complete the budgeted income statement for each quarter. Complete this question by entering your answers in the tabs below. Determine budgeted sales revenue for each quarter: - Each T-shirt is expected to sell for $22. - The purchosing manager buys the T-shirts for $9each. - The company needs to have enough T-shirts on hand at the end of each quarter to fil 32 percent of the next quarter's sales demand: - Selling and administrative expenses are budgeted ot $94,000 per quarter plus 10 percent of total sales revenue. Required: 1. Determine budgeted sales revenue for each quarter: 2. Determine budgeted cost of merchandise purchased for each quartet. 3. Determine budgeted cost of good sold for each quartet. 4. Determine selling and administrative expense for each quartet. 5. Complete the budgeted income statement for eoch quarter. Complete this question by entering your answers in the tabs below. Determine budgeted cost of merchandise purchased for each quarter Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales manager has provided a sales forecast for the coming year, along with the following information: - Each T-shirt is expected to sell for $22. - The purchasing manager buys the T-shirts for $9 each. - The company needs to have enough T-shirts on hand at the end of each quarter to fill 32 percent of the next quarter's sales demand. - Selling and administrative expenses are budgeted at $94,000 per quarter plus 10 percent of total soles revenue. Required: 1. Determine buidgeted sales revenue for eoch quarter. 2. Determine budgeted cost of merchandise purchased for each quarter. 3. Determine budgeted cost of good sold for each quarter. 4. Determine selling and administrative expenise for each quarter. 5. Complete the budgeted income statement for each quarter. Complete this question by entering your answers in the tabs below. Determine budgeted cost of good sold for each quarter. Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales manager has provided sales forecast for the coming year, along with the following information: - Each T-shirt is expected to sell for \$22. - The purchasing manager buys the T-shirts for $9 each. - The company needs to have enough T-shirts on hand ot the end of each quarter to fill 32 percent of the next quarter's sales demand. - Selling and administrative expenses are budgeted at $94,000 per quarter plus 10 percent of fotal sales revenue. Required: 1. Determine budgeted sales revenue for each quarter. 2. Determine budgeted cost of merchandise purchased for each quarter. 3. Determine budgeted cost of good sold for eoch quarter. 4. Determine selling and administrotive expense for each quartet. 5. Complete the budgeted income statement for each quarter. Complete this question by entering your answers in the tabs below. Determine selling and administrative expense for each quarter. 2. Determine budgeted cost of merchandise purchased for each quarter, 3. Determine budgeted cost of good soid for each quarter. 4. Determine selling and administrative expense for each quarter. 5. Complete the budgeted income statement for each quarter. Complete this question by entering your answers in the tabs below. Complete the budgeted income statement for each quarter
