Engineering, 23.03.2020 20:35 AdoNice
The following information pertains to the January operating budget for Casey Corporation. β Budgeted sales for January $200,000 and February $107,000. β Collections for sales are 40% in the month of sale and 60% the next month. β Gross margin is 25% of sales. β Administrative costs are $11,000 each month. β Beginning accounts receivable is $26,000. β Beginning inventory is $15,000. β Beginning accounts payable is $68,000. (All from inventory purchases.) β Purchases are paid in full the following month. β Desired ending inventory is 25% of next month's cost of goods sold (COGS).
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The following information pertains to the January operating budget for Casey Corporation. β Budgeted...
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