Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Purchases Budget Tiger Drug Store carries a variety of health and beauty aids, including 500-count bottles of vitamins. The sales budget for vitamins for the

image text in transcribedPurchases Budget Tiger Drug Store carries a variety of health and beauty aids, including 500-count bottles of vitamins. The sales budget for vitamins for the first six months of the year is presented below. Unit Sales Dollar Sales January 200 $1,800 February 190 1,710 March 210 1,890 April 220 1,980 May 240 2,160 June 230 2,070 The owner of Tiger Drug believes that ending inventories should be sufficient to cover 10 percent of the next months projected sales. On January 1, 22 bottles of vitamins were in inventory. Required: 1. Prepare a merchandise purchases budget in bottles of vitamins for as many months as you can. Tiger Drug Store Merchandise Purchases Budget January February March April May Unit sales fill in the blank 5eabe7fcafe400a_1 fill in the blank 5eabe7fcafe400a_2 fill in the blank 5eabe7fcafe400a_3 fill in the blank 5eabe7fcafe400a_4 fill in the blank 5eabe7fcafe400a_5 Desired EI fill in the blank 5eabe7fcafe400a_6 fill in the blank 5eabe7fcafe400a_7 fill in the blank 5eabe7fcafe400a_8 fill in the blank 5eabe7fcafe400a_9 fill in the blank 5eabe7fcafe400a_10 Total needed fill in the blank 5eabe7fcafe400a_11 fill in the blank 5eabe7fcafe400a_12 fill in the blank 5eabe7fcafe400a_13 fill in the blank 5eabe7fcafe400a_14 fill in the blank 5eabe7fcafe400a_15 Less: BI fill in the blank 5eabe7fcafe400a_16 fill in the blank 5eabe7fcafe400a_17 fill in the blank 5eabe7fcafe400a_18 fill in the blank 5eabe7fcafe400a_19 fill in the blank 5eabe7fcafe400a_20 Unit purchases fill in the blank 5eabe7fcafe400a_21 fill in the blank 5eabe7fcafe400a_22 fill in the blank 5eabe7fcafe400a_23 fill in the blank 5eabe7fcafe400a_24 fill in the blank 5eabe7fcafe400a_25 2. If vitamins are priced at cost plus 80 percent, what is the dollar cost of purchases for each month of your purchases budget? January $fill in the blank 170030074fc1002_1 February fill in the blank 170030074fc1002_2 March fill in the blank 170030074fc1002_3 April fill in the blank 170030074fc1002_4 May fill in the blank 170030074fc1002_5

Purchases Budget Tiger Drug Store carries a variety of health and beauty aids, including 500-count bottles of vitamins. The sales budget for vitamins for the first six months of the year is presented below. Unit Sales January 200 Dollar Sales $1,800 1,710 1,890 February 190 March 210 April 220 1,980 May 240 2,160 June 230 2,070 The owner of Tiger Drug believes that ending inventories should be sufficient to cover 10 percent of the next month's projected sales. On January 1, 22 bottles of vitamins were in inventory. Required: 1. Prepare a merchandise purchases budget in bottles of vitamins for as many months as you can. Tiger Drug Store Merchandise Purchases Budget January February March April May Unit sales Desired EI Total needed Less: BI Unit purchases 2. If vitamins are priced at cost plus 80 percent, what is the dollar cost of purchases for each month of your purchases budget? January $ February March April May

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Art and Science of Assurance Engagements

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser

12th Canadian edition

133098230, 978-0132791564, 132791560, 978-0133098235

More Books

Students also viewed these Accounting questions