Budgeted sales of The Music Shop for the first six months of 2014 are as...
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Accounting
Budgeted sales of The Music Shop for the first six months of 2014 are as follows:
| Month | Unit Sales | Month | Unit Sales |
|---|---|---|---|
| January | 130,000 | April | 215,000 |
| February | 160,000 | May | 180,000 |
| March | 200,000 | June | 240,000 |
Beginning inventory for 2014 is 30,000 units. The budgeted inventory at the end of a month is 40 percent of units to be sold the following month. Purchase price per unit is $5.
Prepare a purchases budget in units and dollars for each month, January through May.
| The Music Shop Purchases Budget January - May, 2014 | |||||
|---|---|---|---|---|---|
| January | February | March | April | May | |
| Purchase units: | _______ | _______ | _______ | _______ | _______ |
| Purchase dollars: | _______ | _______ | _______ | _______ | _______ |
_
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