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Purchase Budget:-
Farhan Furniture Mart plans inventory levels (at cost) at the end of each month as follows: May RS 250,000; June Rs 220,000 July RS 270,000 August Rs 250,000. Sales are expected to be :
June Rs 440,000;
July Rs 350000;
August Rs 400,000.
Cost of Goods sold is 60% of sales. Purchases in April were Rs 250,000; in May Rs 180,000. A given month's purchases are paid as follows. 10% during that month;80% the next month; and the final 10% the next month. The Linal Dead and month.
Problem 1: Prepare budget schedules for June, July and August for purchases and for disbursements for purchases.
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