Bigelow Company Budgets Payroll at $4,000 Per Month Plus a Percentage

question 169

Multiple Choice

Bigelow Company budgets payroll at $4,000 per month plus a percentage of monthly sales.The June operating expense budget includes total payroll of $12,000 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)$14,000.
• B)$13,000.
• C)$22,000.
• D)$12,000.

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Definitions:

Bang Notation

A syntax used in VBA and other programming languages to access elements or properties of collections.

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An expression in programming that evaluates to a value depending on a given condition, typically used in control flow statements.

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