p9-5b - Name: Date: Instructor: Course: rd Managerial...

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FileName: 692917578409b25fdccf68b362d01f5104706fdd.xls, Tab: Problem P9-5B, Page 1 of 2, 12/28/2011, 19:02:16 Name: Date: Instructor: Course: 1 Expected Sales: May $600,000 June $660,000 July $726,000 2 Cost of goods sold is expected to be 75% of sales 3 Company policy is to maintain ending merchandise inventory at 20% of the following month's cost of goods sold 4 Operating expenses are estimated to be: Sales salaries $30,000 Rent expense $5,000 Advertising 5% Depreciation $800 Delivery expense 3% Utilities $600 Sales commissions 4% Insurance $500 5 Income taxes are estimated to be 30% of income from operations Instructions: LOCOCO COMPANY San Miguel Store Merchandise Purchases Budget For the Months of May and June, 2005 May June Budgeted cost of goods sold Formula Formula Title Formula Formula Title Formula Formula Title Formula Formula Title Formula Formula Computation area as desired Computation area as desired Computation area as desired Computation area as desired LOCOCO COMPANY San Miguel Store Merchandise Purchases Budget For the Months of May and June, 2005 May June
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p9-5b - Name: Date: Instructor: Course: rd Managerial...

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