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What steps needed for a sales budget and a purchase budget

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Reference no: EM132765697

Pater's Paints expects the following sales in units in the last quarter (Oct-Dec) of 2020:

Oct 44,000; Nov 58,000; Dec 66,000 and 60,000 for January 2021.

The business has inventory of 8,800 finished units on hand at 1st October and has a target finished inventory of 20% of the following month's sales units. The units are purchased for $15 and sold for $35 each. Payment for purchases is made in the month following purchase. Accounts payable for purchases as at 30 September was $612,000.

Problem 1: What the steps needed for a sales budget and a purchase budget?

 

Reference no: EM132765697

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