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Current Attempt in ProgressThe budget committee of Oriole Company collects the following data for its Cullumber Store in preparing budgeted income statements for July and
Current Attempt in ProgressThe budget committee of Oriole Company collects the following data for its Cullumber Store in preparing budgeted income statements for July and August : The store expects sales for July to be $; for August, $; and for September, $ It expects the cost of goods sold to be of sales Company policy is to maintain ending merchandise inventory at of the following month's cost of goods sold Operating expenses are estimated as follows: E:Sales salaries$ per monthRent expense$ per monthAdvertising of monthly salesDepreciation per monthDelivery expense of monthly salesUtilities per monthSales commissions of monthly salesInsurance per month Income taxes are estimated to be of the income from operations.
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