he company, a wholesaler, budgeted sales for the indicated months June July August Sales on account P1,800,000 P1,920,000 P2,010,000 Cash sales 240.000 250.000 260.000 Total sales P2,010,000 P2,170,000 P2,300,000 All merchandise is marked up to sell at its invoice cost plus 25%. Merchandise inventories at the beginning of each month are at 30% of that month's projected cost of goods sold. 1.The cost of goods sold for the month of June is anticipated to be? 2.merchandise purchases for July are anticipated to be?
he company, a wholesaler, budgeted sales for the indicated months June July August Sales on account P1,800,000 P1,920,000 P2,010,000 Cash sales 240.000 250.000 260.000 Total sales P2,010,000 P2,170,000 P2,300,000 All merchandise is marked up to sell at its invoice cost plus 25%. Merchandise inventories at the beginning of each month are at 30% of that month's projected cost of goods sold. 1.The cost of goods sold for the month of June is anticipated to be? 2.merchandise purchases for July are anticipated to be?
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter8: Budgeting
Section: Chapter Questions
Problem 2CMA
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The company, a wholesaler, budgeted sales for the indicated months
June July August
Sales on account P1,800,000 P1,920,000 P2,010,000
Cash sales 240.000 250.000 260.000
Total sales P2,010,000 P2,170,000 P2,300,000
All merchandise is marked up to sell at its invoice cost plus 25%. Merchandise inventories at the beginning of each month are at 30% of that month's projected cost of goods sold.
1.The cost of goods sold for the month of June is anticipated to be?
2.merchandise purchases for July are anticipated to be?
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