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  • Dec 13, 2011, 02:43 AM
    idubgolf23
    Accounting
    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?

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