Author Question: Bigelow Company budgets payroll at $4,000 per month plus a percentage of monthly sales. The June ... (Read 42 times)

futuristic · **on:** Jan 4, 2020

Bigelow Company budgets payroll at $4,000 per month plus a percentage of monthly sales. The June operating expense budget includes total payroll of $12,000 with budgeted sales of $160,000. Sales for July are budgeted at $180,000 while purchases of inventory for July are budgeted at $95,000. Depreciation and insurance for July are estimated at $1,000 and $600, respectively. Office and administrative expenses related to purchasing inventory are budgeted at 10% of purchases for the month. The purchase of $2,500 in equipment and $1,500 in furniture is expected in July.

The July payroll at Bigelow Company should be budgeted at
◦ $22,000
◦ $12,000
◦ $13,000
◦ $14,000

xoxo123 · **Reply #1 on:** Jan 4, 2020

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