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Given Data Budget data for Luna Housewares, a merchandising company: a ) Budgeted unit sales January 1 3 , 0 0 0 February 1 0
Given Data
Budget data for Luna Housewares, a merchandising company:
a Budgeted unit sales
January
February
March
April
b Selling price, per unit: $
c All sales are on account, there are no uncollectible accounts
Percent of sales collected in the month of sale
Percent of sales collected in the month following the sale
Beginning Accounts Receivable balance from Dec. sales $
all of which will be collected in January
d Each month's ending inventory must equal: of next month's budgeted sales
The cost of goods sold: of sales
Beginning inventory on January $
e All merchandise purchases are on account
Percent of merchandise purchases paid for in month of purchase
Percent of purchases paid for in the month following the purchase
Accounts Payable balance at Dec. which will be paid in Jan. $
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