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Vinning Office Supply's March 31,2024, balance sheet follows: (Click the icon to view...

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Accounting

Vinning Office Supply's March 31,2024, balance sheet follows:
(Click the icon to view the balance sheet.)
Requirement 1. Prepare Vinning's sales budget for April and May 2024. Round all amounts to the nearest dollar.
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a. Sales in April are expected to be $60,000. Vinning 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. Vinning maintains inventory of $9,000 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 $3,000. Sales commissions equal 5% of sales for that month.
d. Other monthly expenses are as follows:
Rent: $3,000
Depreciation: $400
Insurance: $300
Income tax: $2,400
Requirements
Prepare Vinning's sales budget for April and May 2024. Round all calculations
to the nearest dollar.
Prepare Vinning's inventory, purchases, and cost of goods sold budget for
April and May.
Prepare Vinning's selling and administrative expense budget for April and
May.
Data table
image

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