Burton Office Supply's March 31, 2018, balance sheet follows: (Click the icon to view the balance sheet) The budget committee of Burton Office Supply has assembled the following data Click the konto view the data) Read the outcoment Requirement 1. Prepare Burton's sales budget for April and May 2018. Round al amount to the newest dolar Burton Office Supply Sales Budget April and May, 2018 April May Total budgeted sales $ 200.000 $ 204,000 Requirement 2. Prepare Burton's inventory, purchases, and cost of goods sold budget for April and May Burton Supply Company Inventory, Purchases, and cost of Goods Sold Budget April and May, 2018 April May Cost of goods sold $ 100.000 S 102.000 Plus Desired ending merchandise inventory 40,500 41.000 Total merchandise inventory required 140,500 143,000 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing 2018.RO $ Burton Office Supply Balance Sheet March 31, 2018 Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Total Current Assets Property. Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation 32,000 12,000 40,000 1,600 of goods $ 85,600 ds Sold 40,000 (12,000) April 28,000 10 Total Assets $ 113,600 4 Liabilities Current Liabilities: 14 and then Print Done - 0 Data Table has assembled the 1,600 $ 85,600 2018.RO Prepaid Insurance Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures 40,000 (12,000) Less: Accumulated Depreciation 28,000 113,600 $ Total Assets Liabilities 00 $ t of goods 16,000 2,700 y Current Liabilities: Accounts Payable Salaries and Commissions Payable Total Liabilities Stockholders' Equity Common Stock, no par $ 18,700 ods Sold April 25,000 69,900 101 Retained Earnings Total Stokholders' Equity 94.900 4 $ 113,600 14 Total Liabilities and Stockholders' Equity s and then Print Dan More Info a. 000 b. Sales in April are expected to be $200,000. Burton forecasts that monthly sales will increase 2% over April sales in May, June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. Burton maintains inventory of $15,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. Monthly salaries amount to $7,000. Sales commissions equal 5% of sales for that month. Other monthly expenses are as follows: Rent: $2,000 Depreciation: $200 Insurance: $100 Income tax: $2,200 G. d. sta my pod - X Requirements ,000 1. Prepare Burton's sales budget for April and May 2018. Round all calculations to the nearest dollar. 2. Prepare Burton's inventory, purchases, and cost of goods sold budget for April and May 3. Prepare Burton's selling and administrative expense budget for April and May. ost of goods any Od P22-42A (book/static) The Burton Office Supply's March 31, 2018, balance sheet follows: (Click the icon to view the balance sheet.) Rea Sales Budget April and May, 2018 April May $ 200,000 $ 204,000 Total budgeted sales Requirement 2. Prepare Burton's inventory, purchases, and cost of goods sold budget for April and May. Burton Supply Company Inventory, Purchases, and cost of Goods Sold Budget April and May, 2018 April May Cost of goods sold 100,000 $ 102,000 40,500 Desired ending merchandise inventory Plus: 41,000 Total merchandise inventory required 140,500 143,000 40,000 Beginning merchandise inventory Less: 40,500 100,500 5 102,500 Budgeted Purchases Requirement 3. Prepare Burton's selling and administrative expense budget for April and May. Choose from any list or enter any number in the input fields and then click Check Answer. P22-42A (book/static) Burton Office Supply's March 31, 2018, balance sheet follows: E (Click the icon to view the balance sheet.) TUUDU TULDU Budgeted Purchases Requirement 3. Prepare Burton's selling and administrative expense budget for April and May. Burton Office Supply Selling and Administrative Expense Budget April and May, 2018 April May Variable expenses: Fixed expenses: Total fixed expenses Total selling and administrative expenses Choose from any list or enter any number in the input fields and then click Chark Anwar