Question
You are given the following selected information for 2020 related to HELAL Manufacturing company: Jan Feb Mar April Sales $57,300 $60,000 $83,000 $98,000 Cost of
You are given the following selected information for 2020 related to HELAL Manufacturing company:
|
| Jan | Feb | Mar | April |
| Sales | $57,300 | $60,000 | $83,000 | $98,000 |
| Cost of goods sold | 50% of sales |
|
|
|
| Required ending inventory |
$10,000 + 30% of next month's sales |
|
|
|
|
Inventory on hand on Jan 1 | $30,000 |
|
|
|
Calculate the budgeted purchases for 2020.
Select one:
a. $26,650
b. $56,650
c. $650
d. $28,000
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Managerial Accounting
Authors: John Wild, Ken Shaw
5th edition
978-1259176494, 1259176495, 978-1259347641, 1259347648, 978-0078025600
