Question
The Cabello Company buys air conditioners for $3,900 and sells them for $4,800 each; the company has the following sales forecast: April 120 units May
The Cabello Company buys air conditioners for $3,900 and sells them for $4,800 each; the company has the following sales forecast:
April 120 units
May 140 units
June 180 units
July 160 units
The company wants to maintain ending inventory for each month at 15% of the next months sales and had 20 units on hand on April 1st. The company also has monthly rent of $15,000 and salaries of $80,000.
Question: What amount of net income would appear on the company's income statement budget for June?
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Financial Accounting
Authors: Bev Vickerstaff, Parminder Johal
1st Edition
1444170414, 978-1444170412
