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What is the budgeted gross margin in dollars for february

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Reference no: EM131813558

Question - The Butterfly Corporation had the following information that pertained to its March budget:

  • Budgeted sales are $200,000 for February.
  • Collections of sales are 50% in the month of sale and 50% the next month.
  • Cost of goods sold averages 70% of sales.
  • Merchandise purchases total $150,000 in February.
  • Marketing costs are $3000 each month.
  • Administrative costs are $15,000 each month.

What is the budgeted gross margin in dollars for February?

Reference no: EM131813558

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