What are the budgeted merchandise purchases (in dollars)for May?

Name: What are the budgeted merchandise purchases (in dollars)for May?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The budgeted merchandise purchases for May are $338,250. This is calculated by multiplying the budgeted sales for May by the gross profit rate. The budgeted sales for May are $500,000, and the gross profit rate is 67.65%. Therefore, the budgeted merchandise purchases for May are $500,000 x 67.65% = $338,250.

What Are the Budgeted Merchandise Purchases (In Dollars)for May