Red Canyon T - shirt Company operates a chain of T - shirt shops in the southwestern
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Red Canyon Tshirt Company operates a chain of Tshirt shops in the southwestern United States. The sales manage
has provided a sales forecast for the coming year, along with the following information:
Each Tshirt is expected to sell for $
The purchasing manager buys the Tshirts for $ each.
The company needs to have enough Tshirts on hand at the end of each quarter to fill percent of the next
quarter's sales demand.
Selling and administrative expenses are budgeted at $ per quarter plus percent of total sales revenue.
Required:
Determine budgeted sales revenue for each quarter.
Determine budgeted cost of merchandise purchased for each quarter.
Determine budgeted cost of good sold for each quarter.
Determine selling and administrative expense for each quarter.
Complete the budgeted income statement for each quarter.
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Complete the budgeted income statement for each quarter.
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