The purchasing department manager for Thornton Company prepared the following supplies purchases budget. Thorntons policy is to maintain an ending supplies balance equal to 15 percent of the following months supplies expense. Aprils budgeted supplies expense is $82,000.

Required

1. Complete the supplies purchases budget by filling in the missing amounts.

2. Determine the amount of supplies expense the company will report on its first quarter pro forma income statement.

3. Determine the amount of ending supplies the company will report on its pro forma balance sheet at the end of the first quarter.

The purchasing department manager for Thornton Company prepared the following supplies purchases budget. Thornton's policy is to maintain an ending supplies balance equal to 15 percent of the following month's supplies expense. April's budgeted supplies expense is $82,000. Required a. Complete the supplies purchases budget by filling in the missing amounts. b. Determine the amount of supplies expense the company will report on its first quarter pro forma income statement c. Determine the amount of ending supplies the company will report on its pro forma balance sheet at the end of the first quarter. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the supplies purchases budget by filling in the missing amounts. March $ 68,000 Supplies Purchases Budget January February Budgeted supplies expense $ 58,000 $ 62,000 Plus: Desired ending supplies 9,300 Supplies needed 67,300 Less: Beginning supplies 8,700 Required purchases (on $ 58,600 account) The purchasing department manager for Thornton Company prepared the following supplies purchases budget. Thornton's policy is to maintain an ending supplies balance equal to 15 percent of the following month's supplies expense. April's budgeted supplies expense is $82,000. Required a. Complete the supplies purchases budget by filling in the missing amounts. b. Determine the amount of supplies expense the company will report on its first quarter pro forma income statement. C. Determine the amount of ending supplies the company will report on its pro forma balance sheet at the end of the first quarter. Complete this question by entering your answers in the tabs below. Req A Req B and C Determine the amount of supplies expense the company will report on its first quarter pro forma income statement. Determine the amount of ending supplies the company will report on its pro forma balance sheet at the end of the first quarter. Supplies expense c. Ending supplies