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Slattery Comer Shoppe is a local convenience store with the following information: (Click the icon to view the information.) Read the reguirements. Data table Requirement
Slattery Comer Shoppe is a local convenience store with the following information: (Click the icon to view the information.) Read the reguirements. Data table Requirement 1. Prepare the sales budget for November and December. - October sales were $280,000. - Sales are projected to go up by 10% in November (from the October sales) and another 25% in December (from the November sales) and then return to the Requirements October level in January. + 25% of sales are made in cash, while the remaining 75% are paid by credit or debit cards. The credt card companies and banks (debit card issuers) charge a 2% Iransaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daly. - Slattery Comer Shoppe's gross profit is 20% of its sales reverwe. - For the next several monthe, the store wants to maintain an ending merchandise inventory equal to $13,000+10% of the next month's cost of goods sold. The September 30 inventory was 535,400. - Expected monthly operating expenses include: - Wages of atore workers are $8.600 per month - Utaities experse of $900 in November and $2,100 in December - Property tax expense of $2.700 per month - Property and lability insurance expense of $1,000 per month - Depreciation expense of $7,000 per month - Transaction lees, as stated above, are 2% of credit and debit card sales
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