Times New... 12 = 6. Coffee Company, a retailer, plans to sell 20,000 coffee steel mugs during the month of August. The company has 3,000 coffee steel mugs on hand at the start of the month, and plans to have 2,000 on hand at the end of the month. How many coffee steel mugs must be purchased from the supplier during the month? 7. The following are budgeted data: January February March Sales in units 15,000 20,000 18,000 Production in units 18,000 19,000 16,000 One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 20% of the following month's production needs. Purchases of raw materials for February should be: The following are budgeted data for the Carol Company, a merchandising company: Budgeted Sales (at retail) January $300,000 February $340,000 March $400,000 April $350,000 Cost of goods sold as a percentage of sales is 70%. The desired ending inventory is 80% of next month's sales. 8. Assuming that the Carol Company had inventory on hand of $70,000 (at cost) on January Rext Y 1 Times New... 12 + BI VA 8. Assuming that the Carol Company had inventory on hand of $70,000 (at cost) on January 1, the purchases for January (at cost) would be: Nickel Corporation, a merchandising company, reported the following for July: Sales $ 500,000 Cost of goods sold (all variable) $ 200,000 Total variable selling expense $ 17.100 Total fixed selling expense $ 14,200 Total variable administrative expense $ 7,600 Total fixed administrative expense S 30,100 19. What was the gross margin for July? 2