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Copper, Inc.'s intern was preparing the cash budget for May. Copper's beginning inventory was ...

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Copper, Inc.'s intern was preparing the cash budget for May. Copper's beginning inventory was ...

Copper, Inc.'s intern was preparing the cash budget for May. Copper's beginning inventory was $12,600 and its ending inventory was $12,000. If cost of goods sold is 55% of sales, what was the amount of budgeted monthly sales (if necessary, round your answer to the nearest dollar)?

Beginning cash balance	$ 1,800
Cash receipts	151,800
Total cash available to spend	153,600
Less disbursements:
Merchandise purchases	133,050
Selling and administrative expenses	27,000
Total cash disbursements	160,050
Cash excess (needed)	(6,450)
Borrowing	7,950
Ending cash balance	$ 1,500

▸ $73,508

▸ $240,818

▸ $350,000

▸ $243,000

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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Smart ... Thanks!

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