Data Table More Info a May Sales in April are expected to be $100,000. Thumbtack forecasts that monthly sales wil Increase 2 over Arild in May, June's sales will increase by 4% over April sales July sales will increase 20% over Apel sales b. Thumbtack maintains inventory of $13,000 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 $4.000. Sales commissions equal 5% of sales for that month. d. Other monthly expenses are as follows: . Rent $2,400 Depreciation: 5800 Insurance: $400 income tax $1,000 e ses, and a Compan of Good 2018 79.500 Print Done Thumbtack Office Supply Balance Sheet March 31, 2018 Assets Current Assets Cash 5 24,000 Accounts Receivable 18,000 Merchandise inventory 35.500 Prepaid Insurance 2.000 Total Current Assets $ Property, plant, and Equipment Equipment and Fodtures 42.000 Less: Accumulated Depreciation (30,000) S Total Assets Liabilities Current Lab Accounts Payable 15.000 Salaries and Commissions Payabi 2.100 Total Lisbites Stockholders' Equity Common Stock, no po 12.000 62.400 Retained Earnings Total Stockholders' Equity Total Listed Stockholders' Equity 12 000 Requirements 91,500 1. Prepare Thumbtack's sales budget for April and May 2018. Round all calculations to the nearest dollar 2. Prepare Thumbtack's inventory purchases and cost of goods sold budget for April and May 3. Prepare Thumbtack's seling and administrative expense budget for April and nse Budg $ 17.100 April Print Done 74,400 $ 91,500 at fields ar Thumbtack Office Supply's March 31, 2018, balance sheet follows: (Click the icon to view the balance sheet.) Requirement 1. Prepare Thumbtack's sales budget for April and May 2018. Round all amounts to the nearest dollar. Thumbtack Office Supply Sales Budget April and May, 2018 April May Total budgeted sales Requirement 2. Prepare Thumbtack's inventory, purchases, and cost of goods sold budget for April and May. Thumbtack Supply Company Inventory, Purchases, and cost of Goods Sold Budget April and May, 2018 April May Plus: Total merchandise inventory required Less: Budgete Beginning merchandise inventory Requirel Cost of goods sold Desired ending merchandise inventory expense budget for April and May. Sales set April and May, 2018 April May Variable expenses: Choose from any list or enter any number in the input fields and then continue to the next question Inventory, Purchases, and Cost of Goods Sold Budget April and May, 2018 April May Plus: Total merchandise inventory required Less: Budgeted Purchases Requirement 3. Prepare Thumbtack's selling and administrative expense budget for April and May. Thumbtack 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 continue to the next question. Less: Budgeted Purchases Requirement 3. Prepare Thumbtack's selling and administrative expense budget for April and May The upply kpense Budget Commissions Expense 118 Cost of Goods Sold Depreciation Expense April Ending Merchandise Inventory Insurance Expense Purchases Rent Expense Salaries Expense Sales May Total fixed expenses Total selling and administrative expenses Choose from any list or enter any number in the input fields and then continue to the next