Purchase Budget Bob's Burgers Inventory, Purchases, and Cost...

Purchase Budget Bob's Burgers Inventory, Purchases, and Cost of Goods Sold Budget January - March 2025 January February March Jan - March Total COGS (60\% sales) Desired EI (3,000 + 60\% next month's COGS) Total inventory required Beginning Inventory $17,400 Purchases

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You are the internal accountant for Bob's Burgers. Bob has asked you to prepare the master budget for the first quarter of 2025 (January - March), except for the budgeted cashflow statement, because Bob doesn't care about it. Much of the information required is provided within the company templates. Additional required information is: -Bob's Burgers projects the first quarter sales to be $40,000 in January, $35,000 in February, $45,000 in March, and $40,000 in April. -Bob's Burgers incurs fixed monthly expenses of $10,000 for employee salaries, $1,500 for rent, and $1,000 for depreciation. -Bob's Burgers allocates $200 of pre-paid insurance to each month. -If there -As of January 1st, 2025, it is expected there will be an $1,800 balance in pre-paid insurance. -As of January 1st, 2025, it is expected there will be a $4,000 balance in accumulated depreciation. -As of January 1st, 2025, it is expected there will be a $75,700 balance in retained earnings. -As of January 1st, 2025, equipment balance is $17,000. Purchase Budget Bob's Burgers Inventory, Purchases, and Cost of Goods Sold Budget January - March 2025 January February March Jan -March Total COGS (60% sales) Desired EI (3,000 + 60% next month's COGS) Total inventory required Beginning Inventory $17,400 Purchases

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Purchase Budget Bob's Burgers Inventory, Purchases, and Cost of Goods Sold Budget January - March 2025 January February March Jan - March Total COGS (60\% sales) Desired EI (3,000 + 60\% next month's COGS) Total inventory required Beginning Inventory $17,400 Purchases

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