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Engineering, 23.03.2020 20:35 AdoNice

The following information pertains to the January operating budget for Casey Corporation. βˆ™ Budgeted sales for January $200,000 and February $107,000. βˆ™ Collections for sales are 40% in the month of sale and 60% the next month. βˆ™ Gross margin is 25% of sales. βˆ™ Administrative costs are $11,000 each month. βˆ™ Beginning accounts receivable is $26,000. βˆ™ Beginning inventory is $15,000. βˆ™ Beginning accounts payable is $68,000. (All from inventory purchases.) βˆ™ Purchases are paid in full the following month. βˆ™ Desired ending inventory is 25% of next month's cost of goods sold (COGS).

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The following information pertains to the January operating budget for Casey Corporation. βˆ™ Budgeted...
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