yazeedbakri
Aug 13, 2010, 03:04 PM
Whitaker Company budgets payroll at $3,000 per month plus a percentage of monthly sales. The 8)
June operating expense budget includes total payroll of $10,500 with budgeted sales of $150,000.
Sales for July are budgeted at $165,000, while purchases of inventory for July are budgeted at
$85,000. Depreciation and insurance for July are estimated at $750 and $500, respectively. Expenses
Related to purchasing inventory are budgeted at 5% of purchases for the month. The purchase of
$3,000 in equipment and $1,200 in furniture is expected in July.
What are the total operating expenses budgeted for July?
June operating expense budget includes total payroll of $10,500 with budgeted sales of $150,000.
Sales for July are budgeted at $165,000, while purchases of inventory for July are budgeted at
$85,000. Depreciation and insurance for July are estimated at $750 and $500, respectively. Expenses
Related to purchasing inventory are budgeted at 5% of purchases for the month. The purchase of
$3,000 in equipment and $1,200 in furniture is expected in July.
What are the total operating expenses budgeted for July?