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Hastings Co. sells widgets. The company is currently developing a purchases budget for July. Projected sales volumes are 154 for June, 183 for July, and
Hastings Co. sells widgets. The company is currently developing a purchases budget for July. Projected sales volumes are 154 for June, 183 for July, and 195 for August. Hastings wants to maintain inventories of 21% of the following month's sales volume (rounded up to a whole number). Hastings needs to spend $21 to buy each widget. Hastings buys on credit and pays half the bill for widgets in the same month and half in the following month. How many units will Hastings budget to purchase in July? Answer: How much purchases will be budgeted for in $ for July. Answer: How much cash outflow for purchases will Hastings budget for July? (Round to nearest dollar if not a whole number.)
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