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Slate Corner Shoppe is a local convenience store with the following information:

(please ignore the numbers in the pictures, was used from a different problem) thank you so much.

Data Table October sales were $240,000 Sales are projected to go up by 20% in November (from the October sales) and another 30% in December (from the November sales) and then return to the October level in January 40% of sales are made in cash, while the remaining 60% are paid by credit or debit cards. The credit card companies and banks (debit card issuers) charge a 5% transaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daily Slate Corner Shoppe's gross profit is 40% of its sales revenue .For the next several months, the store wants to maintain an ending merchandise inventory equal to $11,000 + 15% of the next month's cost of goods sold. The September 30 inventory was $32,600 Expected monthly operating expenses include .Wages of store workers are $9,000 per month Utilities expense of $1,600 in November and $2,000 in December Property tax expense of $2,300 per month Property and liability insurance expense of $600 per month .Depreciation expense of $7,000 per month Transaction fees, as stated above, are 5% of credit and debit card sales . Requirement 1. Prepare the sales budget for November and December. Slattery Corner Shoppe Sales Budget For the Months of November and December November December 115,200 $ 149,760 Cash sales 224,640 Credit sales 288,000 $ 374,400 Total sales Requirement 2. Prepare the cost of goods sold, inventory, and purchases budget for November and December. Slattery Corner Shoppe Cost of Goods Sold, Inventory, and Purchases Budget For the Months of November and December Requirement 2. Prepare the cost of goods sold, inventory, and purchases budget for November and December. Slattery Corner Shoppe Cost of Goods Sold, Inventory, and Purchases Budget For the Months of November and December November December 172,800 $ 224,640 Cost of goods sold 53,696 41,600 Plus: Desired ending inventory 226,496 $ 266,240 Total inventory required 53,696 45,920 Less: Beginning inventory 180,576 $ 212,544 Purchases Requirement 3. repare the operating expen se budget for November and December Slattery Corner Shoppe Requirement 3. Prepare the operating expense budget for November and December. Slattery Corner Shoppe Operating Expenses Budget For the Months of November and December November December Wage expense Utilities expense Property tax expense Property and liability insuranse expense Depreciation expense Credit Debit card fees expense Total operating expenses Requirement 4. Prepare the budgeted income statement for November and December. (Use the traditional format) Slattery Corner Shoppe Budgeted Income Statement For the Months of November and December November December Sales revenue Less: Cost of goods sold Gross profi Less: Operating expenses Net income

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