Don't copy any other answers and Please show me the workings.

From the Answers in the textbook

May COGS:15,500

May Op.inc 17900

June Op.Inc 11900

Tried solving it on my own but not getting the right answers.

P22-28B The budget committee of Omaha Office Supply Co. has assembled the following data. As the business manager, you must prepare the budgeted income statements for May and June 2008. Sales budget information: Sales in April were $42,100. You forecast that monthly sales will increase 2.0% in May and 2.4% in June. Inventory, purchases, and cost of goods sold budget information: Omaha maintains inventory of $9,000 plus 25% of the sales revenue budgeted for the following month. Monthly purchases average 50% of sales revenue in that same month. Actual inventory on April 30 is $14,000. Sales budgered for July are $42,400. Operating expense budget information: a. Monthly salaries amount to $4,000. Sales commissions equal 4% of sales for that month. Combine salaries and commissions into a single figure. b. Other monthly expenses are: Renr expense Depreciation expense Insurance expense 53.000; paid as incurred $600 $ 200, expiration of prepaid amount Requirements 1. Prepare the inventory, purchases, and cost of goods sold bud- get, and the operating expenses budget for May and June. (pp. 1109-1110) 2. Prepare Omaha's budgeted income statements for May and June. Round all amounts to the nearest $100. (Round amounts ending in $50 or more upward, and amounts ending in less than $50 downward.) For example, budgeted May sales are $42,900 ($42,100 x 1.02), and June sales are $43,900 ($42,900 x 1.024). (p. 1112) P22-28B The budget committee of Omaha Office Supply Co. has assembled the following data. As the business manager, you must prepare the budgeted income statements for May and June 2008. Sales budget information: Sales in April were $42,100. You forecast that monthly sales will increase 2.0% in May and 2.4% in June. Inventory, purchases, and cost of goods sold budget information: Omaha maintains inventory of $9,000 plus 25% of the sales revenue budgeted for the following month. Monthly purchases average 50% of sales revenue in that same month. Actual inventory on April 30 is $14,000. Sales budgered for July are $42,400. Operating expense budget information: a. Monthly salaries amount to $4,000. Sales commissions equal 4% of sales for that month. Combine salaries and commissions into a single figure. b. Other monthly expenses are: Renr expense Depreciation expense Insurance expense 53.000; paid as incurred $600 $ 200, expiration of prepaid amount Requirements 1. Prepare the inventory, purchases, and cost of goods sold bud- get, and the operating expenses budget for May and June. (pp. 1109-1110) 2. Prepare Omaha's budgeted income statements for May and June. Round all amounts to the nearest $100. (Round amounts ending in $50 or more upward, and amounts ending in less than $50 downward.) For example, budgeted May sales are $42,900 ($42,100 x 1.02), and June sales are $43,900 ($42,900 x 1.024). (p. 1112)