Purchases and Payment Budget To: Noah Hatton, CEO From: Robin Johnson, Purchasing department manager Subject: Purchase budget Date: July 27, Year 6 Dear Noah, I prepared a purchases and cash payments budget for February through June. The information is presented below. Data February March April May June Unit sales 100 160 200 260 300 Inventory balance 15% of next month's budgeted sales Selling price $28 Unit cost $18 40% in the month of purchase Payments on payables 60% in the month following the purchase Best, Robin Corporation XYZ manufactures and sells office supplies. The financial analyst prepared a budget of purchases for February through June. This will be used in preparation of the income statement, cash flow statement, and balance sheet. Based on the information in the exhibit, calculate the amounts requested below for April. Enter the appropriate amounts in the associated cells. Enter all amounts as positive values. Round amounts to the nearest hundredth. Entry Amount 123 1. Purchase budget (dollars) 123 2. Cash payments to vendors 123 3. Accounts payable 123 4. Cost of goods sold