World Gift - WORLD GIFTS CORP - PROJECT a. SALES BUDGET...

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WORLD GIFTS CORP - PROJECT +10% +10% a. SALES BUDGET JAN FEB MAR CASH SALES 30% 75,000 82,500 90,750 SALES ON ACCOUNT 70% 175,000 192,500 211,750 TOTAL BUDGETED SALES 250,000 275,000 302,500 b. SCHEDULE OF CASH RECEIPTS JAN FEB MAR CURRENT CASH SALES 75,000 82,500 90,750 PLUS COLLECTIONS FR ACCTS REC - 175,000 192,500 TOTAL COLLECTIONS 75,000 257,500 283,250 JAN FEB MAR c. INVENTORY PURCHASES BUDGET BUDGETED COST OF GOODS SOLD 125,000 137,500 151,250 PLUS DESIRED ENDING INVENTORY 27,500 30,250 33,000 INVENTORY NEEDED 152,500 167,750 184,250 LESS BEGINNING INVENTORY - 27,500 30,250 REQUIRED PURCHASES ON ACCT 152,500 140,250 154,000
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d. Schedule of Cash Payments Budget for Inventory Purchases PAYMENT OF CURRENT MONTH'S A/P 91,500 84,150 92,400 PAYMENT OF PRIOR MONTH'S A/P - 61,000 56,100 TOTAL BUDGETED PAYMENTS FOR INVEN 91,500 145,150 148,500 e. SELLING AND ADM EXPENSE BUDGET JAN SALARY EXPENSE 25,000 25,000 25,000 SALES COMMISSIONS 8% OF SALES 20,000 22,000 24,200 SUPPLIES EXPENSE 4% OF SALES
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World Gift - WORLD GIFTS CORP - PROJECT a. SALES BUDGET...

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