Example in april 30 of april cost of goods sold is

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example, in April, 30% of April cost of goods sold is purchased and 70% of May cost of goods sold is purchased. All purchases are made on account. Historically, 75% of accounts payable have been paid during the month of purchase, and the remaining 25% in the month following purchase. Hourly wages and fringe benefits, estimated at 30% of the current month's sales, are paid in the month incurred. . General and administrative expenses are projected to be
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$1,573,400 for the year. A breakdown of the expenses follows. All expenditures are paid monthly throughout the year, with the exception of property taxes, which are paid in four equal installments at the end of each quarter. Salaries and fringe benefits Advertising Property taxes Insurance Utilities Depreciation Total $ 327,100 377,800 143,800 194,500 183,000 347,200 $ 1,573,400 Prepare the cash receipts budget for the second quarter. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.) Cash Receipts Budget May June April Total Cash Receipts February sales March sales April sales May sales Totals Accounts Receivable balance at the end of second quarter of 2015 $ Prepare the purchases budget for the second quarter. (Round
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