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What brownsville budgeted operating income for may is

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Reference no: EM132902977

Brownsville Novelty Store prepared the following budget information for the month of May:

  1. Sales are budgeted at $369,000. All sales are on account and a provision for bad debts is made for each month at three percent of sales for the month.
  2. Inventory was $93,000 on April 30; an inventory increase of $19,000 is planned for May 31.
  3. All inventory is marked to sell at cost plus 50 percent.
  4. Estimated expense for selling and administrative expenses for the month are $57,000.
  5. Depreciation for May is projected at $6,900.

Problem 1: Brownsville's budgeted operating income for May is:

Reference no: EM132902977

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