Expected monthly sales for April, May, June, and July are $$220,000,$$$190,000,$$$310,000,$ and $$90,000,$ respectively.

Cost of goods sold is $30$ percent of expected sales.

CGC$\text{'}$s desired ending inventory is $20$ percent of the following month's cost of goods sold.

Monthly operating expenses are estimated to be:

Salaries: $$30,000.$

Delivery expense: $4$ percent of monthly sales.

Rent expense on the warehouse: $$4,500.$

Utilities: $$800.$

Insurance: $$175.$

Other expenses: $$260.$

Required:

Compute the budgeted cost of purchases for each month in the second quarter.

Complete the budgeted income statement for each month in the second quarter.

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Compute the budgeted cost of purchases for each month in the second quarter.