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Omaha Office Supply's March 31,2024, balance sheet follows: More info a. Sales in...

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Accounting

Omaha Office Supply's March 31,2024, balance sheet follows: More info
a. Sales in April are expected to be $220,000. Omaha forecasts that monthly sales will
increase 2% over April sales in May. June's sales will increase by 4% over April sales. July
sales will increase 20% over April sales.
b. Omaha maintains inventory of $10,000 plus 25% of the cost of goods sold budgeted for the
following month. Cost of goods sold equal 50% of sales revenue.
c. Monthly salaries amount to $6,000. Sales commissions equal 5% of sales for that month.
d. Other monthly expenses are as follows:
Rent: $2,200
Depreciation: $300
Insurance: $200
Income tax: $1,800
(Click the icon to view the balance sheet.)
The budget committee of Omaha Office Supply has assembled the following data:
i.(Click the icon to view the data.)
Data table
image

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