Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Pet Food Company budgets payroll at $3,900 per month plus a percentage of monthly sales. The June operating expenses budget includes total payroll of $12,400
Pet Food Company budgets payroll at $3,900 per month plus a percentage of monthly sales. The June operating expenses budget includes total payroll of $12,400 with budgeted sales of $170,000. Sales for July are budgeted at $190,000 while purchases of inventory for July are budgeted at $91,000. Depreciation and insurance for July are estimated at $800 and $300, respectively. Office and administrative expenses related to purchasing inventory are budgeted at 10% of purchases for the month. The purchase of $2,400 in equipment and $1,600 in furniture is expected in July. The total operating expenses budgeted for July are O A. $22,500 OB. $13,400 O c. $13,500 OD. $23,600
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started