Coronet Company provided the following information related to its inventory sales and purchases for December 2013 and the first quarter of 2014 Mar. 2014 Dec. 2013 Jan. 2014 Feb. 2014 (Actual) (Budgeted) (Budgeted) (Budgeted) Cost of goods sold $76,000 $96,000 $46,000 $66,000 Desired ending inventory levels are 31% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February 2014 would be: Multiple Choice $111,780 $94,200. $86,700 $75,300

Coronet Company provided the following information related to its inventory sales and purchases for December 2013 and the first quarter of 2014 Mar. 2014 Dec. 2013 Jan. 2014 Feb. 2014 (Actual) (Budgeted) (Budgeted) (Budgeted) Cost of goods sold $76,000 $96,000 $46,000 $66,000 Desired ending inventory levels are 31% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February 2014 would be: Multiple Choice $111,780 $94,200. $86,700 $75,300

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 6E: Roman Inc. has the following totals from its operating budgets: Prepare a budgeted income statement...

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