requirement 2

Data table toe of Ruler Office Sumply has as to viow the data ) Supply's March 31 Data table Ruler Sale April al fgeted sales nent 2. Prepare Ruler Invento Cost of goods sold irchandise inventory re Beginning merchandi ad Purchases iet more help - fice Supply's March 31, 2024, balance sheet follows: ck the icon to view the balance sheet.) The budget committee of Ruler Office (Click the icon to view the data) Read the requirements: More info a. Sales in April are expected to be $140,000. Ruler forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. b. Ruler maintains inventory of $7,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. c. Monthly salaries amount to $6,000. Sales commissions equal 5% of sales for that month. d. Other monthly expenses are as follows: - Rent $2,600 - Depreciation: $400 - Insurance: $300 - Income tax $1,700 Ruler Office Supplys March 31, 2024, balance sheet follows: Requirement 1. Prepare Ruler's sales budget for Apnl and May 2024. Round all amounts to the nearest dollar Requirement 2. Prepare Ruler's inventory, purchases, and cost of goods sold budget for April and May