The following information pertains to the January operating budget for Casey Corporation, a retailer: - Budgeted sales are $200,000 for January - Collections of sales are 50% in the month of sale and 50% the next month - Cost of goods sold averages 70% of sales - Merchandise purchases total $150,000 in January - Marketing costs are $3,000 each month - Distribution costs are $5,000 each month - Administrative costs are $10,000 each month What is the amount budgeted for direct material purchases in 20X5? $580.000 $600,000 $520,000 $760,000 The following information pertains to the January operating budget for Casey Corporation, a retailer: - Budgeted sales are $200,000 for January - Collections of sales are 50% in the month of sale and 50% the next month - Cost of goods sold averages 70% of sales - Merchandise purchases total $150,000 in January - Marketing costs are $3,000 each month - Distribution costs are $5,000 each month - Administrative costs are $10,000 each month What is the amount budgeted for direct material purchases in 20X5? $580.000 $600,000 $520,000 $760,000