(Answered) Question - linda candle company is in the process of

Accounting

Question - Linda Candle Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 50 percent of sales. Product purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at 15 percent of sales and are paid during the month of sale. Other operating costs amounting to 20 percent of sales are to be paid in the month following the month of sales. Sales revenue is forecasted as follows:

Month Sales

February $760,000

March $492,000

April $830,000

May $750,000

June $818,000

What is the amount of fabric purchases during the month of April?

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