The budget committee of Twilight Dresses, an upscale women's clothing retailer, has assembled the following data. As the business mana AL VALLMustaronare the budapted income statements for Movandilupa i Data Table X Requir Prepard Before answer hd your a. Sales in April were $35,000. You forecast that monthly sales will increase 10% in May and an additional 4% in June. b. Twilight Dresses maintains inventory of $9,000 plus 10% of the sales revenues budgeted for the following month. Monthly purchases average 50% of sales revenue in that same month. Actual inventory on April 30 is $12,850. Sales budgeted for July are $50,000. C. Monthly salaries amount to $7,000. Sales commissions equal 5% of sales for that month. Combine salaries and commissions into a single figure. d. Other monthly expenses are as follows: Rent expense $2,400, paid as incurred Depreciation expense $600 Insurance expense. $200, expiration of prepaid amount Income tax 20% of operating income Cost Now ca Print Done Choose from any list or enter any number in the input fields and then continue to the next question The budget committee of Twilight Dresses, an upscale women's clothing retailer, has assembled the following data. As the business manager, you must prepare the budgeted income statements for May and June. Click the icon to view the information to prepare the budget.) Requirement Prepare Twilight Dresses budgeted income statements for May and June. Show cost of goods sold computations. Before completing the budgeted income statements, compute the budgeted cost of goods sold for May and June. (Round your answers to the nearest whole dollar.) May June Cost of goods sold Now complete the budgeted income statements for May and June. (Round your answers to the nearest whole dollar.) Twilight Dresses Budgeted Income Statements For the Months Ended May 31 and June 30 Choose from any list or enter any number in the input fields and then continue to the next question. The budget committee of Twilight Dresses, an upscale women's clothing retailer, has assembled the following data. As the business manager, you must prepare the budgeted income statements for May and June. (Click the icon to view the information to prepare the budget.) Requirement Prepare Twilight Dresses' budgeted income statements for May and June. Show cost of goods sold computations. For the Months Ended May 31 and June 30 May June Sales revenue Cost of goods sold Gross profit Operating expenses: Salaries and commission expense Rent expense Depreciation expense Insurance expense Operating income TI Income tax expense Net income (loss) Choose from any list or enter any number in the input fields and then continue to the next