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(Solved): The budget committee of Suppar Company collects the following data for its San Miguel 5 tore in pre ...




The budget committee of Suppar Company collects the following data for its San Miguel 5 tore in preparing budgeted income sta
The budget committee of Suppar Company collects the following data for its San Miguel 5 tore in preparing budgeted income statements for May and June 2020. 1. Sales for May are expected to be \( \$ 1,200,000 \). Sales in June and July are expected to be 5x higher than the preceding month. 2. Cost of goods sold is expected to be \( 75 \% \) of sales. 3. Company policy is to maintain ending merchandise inventory at 10 s of the followirg month's cost of goods sold. 4. Operating expenves are estimated to be as follows: 5. Interest expense is \( \$ 2.000 \) per month. Income taxes are estimated to be \( 30 x \) of income before income taxes: Prepare the merchandive purchases budget for each month in columnar form.


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