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Managerial Accounting - Melissa lbardaloza 6/16/19 2 Homework: Week 6: Homework core: 0 of 20 pts 1 of 2 (2 complete)v HW Score: 0%, 0 K E9-35A (similar to) EQuestion H X Data Table Sullivan Comer Shoppe is a local convenience store with the folllowing information: E(Click the icon to view the information.) Read the requirements October sales were $260.000 Sales are projected to go up by 8 % another 25% in December (from the November sales) and then return level in January. November (from the October sales) and the October X Requi i Requirements 25% of sales are made in cash, while the remaining 75% are paid by credit or debit cards. The credit card companies and banks (debit card issuers) charge a amount (sales pric transaction fee) in he Prepare the following budgets for November and December: 1. Sales budget 2. Cost of goods sold, inventory, and purchases budget the store's bank account daily Sullivan Corner Shoppe's gross profit is 30% of its sales revenue. For the next several months, the store wants to maintain an ending merchandise inventory equal to $17,000 +20 % of the next month's cost of goods sold. The September 30 inventory was $53.400 Cash 3. Operating expense budget 4. Budgeted income statement Credit Expected monthly operating expenses include: .Wages of store workers are $8,900 per month Total Print Done .Utilities expense of $1,700 in November and $1,900 in December Property tax expense Property and liability insurance expense of $300 per month $2.100 per month nter any number in the edit fields and then click Check Answer Print Done parts remaining k

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