​Mimosa, Inc., a merchandising​ company, has the following budgeted​ figures:       Jan Feb Mar April Sales ​$54,900 ​$63,000 ​$88,000 ​$94,000 Cost of goods sold ​60% of sales       Required ending inventory ​$20,000 +​ 30% of next​ month's sales       Inventory on hand on Jan 1 ​$27,500         Calculate cost of goods sold for the month of February.

Montel Company's July sales budget shows sales of $560,000. The company budgets beginning merchandise inventory of $68.00O and ending merchandise inventory of $33,000 for July. Cost of goods sold is 30% of sales. Determine the budgeted cost of merchandise purchases for July. Hint: Use the relation (Beginning Inventory + Purchases - Cost of Goods Sold = Ending Inventory) to solve for purchases. MONTEL COMPANY Budgeted Cost of Merchandise Purchases For Month Ended July

Aztec Company sells its product for $150 per unit. Its actual and budgeted sales follow. May (Actual) June (Budget) July (Budget) August (Budget) 6,000 4,100 $ 900,000 2,400 5,000 $360,000 $750,000 $ 615,000 Sales units Sales dollars. All sales are on credit. Collections are as follows: 24% is collected in the month of the sale, and the remaining 76% is collected in the month following the sale. Merchandise purchases cost $110 per unit. For those purchases, 60% is paid in the month of purchase and the other 40% is paid in the month following purchase. The company has a policy to maintain an ending monthly inventory of 22% of the next month's unit sales. The May 31 actual inventory level of 1,320 units is consistent with this policy. Selling and administrative expenses of $114,000 per month are paid in cash. The company's minimum cash balance at month-end is $140,000. Loans are obtained at the end of any month when the preliminary cash balance is below $140,000. Any preliminary cash…

The BRS Corporation makes collections on sales according to the following schedule: 45% in month of sale 53% in month following sale 2% in second month following sale The following sales have been budgeted: Sales April $220, 000 $150,000 May June $140, 000 Budgeted cash collections in June would be: Multiple Cholce $140,000 $142,500 $146,900 $140,440