Question
In: Accounting
Tuscarora, Inc., a merchandising company, has the following budgeted figures: Jan Feb Mar April Sales $57,300...
Tuscarora, Inc., a merchandising company, has the following budgeted figures:
|
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 the month of January.
A.
$28,000
B.
$26,650
C.
$650
D.
$56,650
Solutions
Expert Solution
Budgeted purchases
= Budgeted production + Desired ending inventory - Beginning inventory
= (57,300*50%) + (30%*60,000)+10,000 - 30,000
= 28,650 + 28,000 - 30,000
= 26,650
Option B
ekkarill92 answered 2 years agoRelated Solutions
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