Question
Conchita Company has the following information: Month Budgeted Sales March P 50,000 April 53,000 May 51,000 June 54,500 July 52,500 In addition, the gross profit
Conchita Company has the following information: Month Budgeted Sales March P 50,000 April 53,000 May 51,000 June 54,500 July 52,500 In addition, the gross profit rate is 40% and the desired inventory level is 30% of next month's cost of sales.
Required: Please prepare a purchases budget for April and May.
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Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
4th Canadian edition
1118856996, 978-1118856994
