answer question two

Munoz Company, which sells electric razors, had $340,000 of cost of goods sold during the month of June. The company projects a 7 percent increase in cost of goods sold during July. The inventory balance as of June 30 is $31,000, and the desired ending inventory balance for July is $32,000. Munoz pays cash to settle 80 percent of its purchases on account during the month of purchase and pays the remaining 20 percent in the month following the purchase. The accounts payable balance as of June 30 was $33,000. Required a. Determine the amount of purchases budgeted for July. b. Determine the amount of cash payments budgeted for inventory purchases in July, Budgeted purchases b. Cash payments The budget director for Stuart Cleaning Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments are paid for in the month incurred except salary expense and Insurance. Salary is paid in the month following the month in which it is incurred. The insurance premium for six months is paid on October 1. October is the first month of operations; accordingly, there are no beginning account balances. Required a. Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. b. Determine the amount of salaries payable the company will report on its pro forma balance sheet at the end of the fourth quarter. c. Determine the amount of prepaid insurance the company will report on its pro forma balance sheet at the end of the fourth quarter. Complete this question by entering your answers in the tabs below. Reg A Reg B and C Complete the schedule of cash payments for 58A expenses by filling in the missing amounts. October November December Budgeted S&A Expenses Equipment tease expense $ 6,500 5 6,500 5 6,500 Salary expense 6,300 6,800 7.200 Cleaning supplies 2.880 2,750 3,040 Insurance expense 1,800 1.800 1,800 Depreciation on computer 2200 2,200 2,200 Rent 2.100 2,100 2,100 Miscellaneous expenses 650 650 650 Total operating expenses S 22.4301 $ 22,800 $ 23.490 Schedule of Cash Payments for S&A Expenses Equipment lease expense Prior month's salary expense, 100% Cleaning supplies Insurance premium Depreciation on computer Rent Miscellaneous expenses Total disbursements for operating expenses $ 22,930 $ 18,300 $ 19,090 CN ReqB and C > The budget director for Stuart Cleaning Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments are paid for in the month incurred except salary expense and insurance Salary is paid in the month following the month in which it is incurred. The insurance premium for six months is paid on October 1. October is the first month of operations, accordingly, there are no beginning account balances. Required a. Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. b. Determine the amount of salaries payable the company will report on its pro forma balance sheet at the end of the fourth quarter. c. Determine the amount of prepaid insurance the company will report on its pro forma balance sheet at the end of the fourth quarter. Complete this question by entering your answers in the tabs below. Reg A ReqB and C Determine the amount of salaries payable and prepaid Insurance the company will report on its pro forma balance sheet at the end of the fourth quarter. 6. Salaries payable Prepaid insurance