Multiple Choice
Warshaw Company budgets payroll at $3,600 per month plus a percentage of monthly sales.The June operating expenses budget includes total payroll of $13,200 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 should be budgeted at
A) $14,400.
B) $13,200.
C) $22,500.
D) $15,300.
Correct Answer:
Verified
Correct Answer:
Verified
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