Question - JJ Gargoyle Company is preparing their budget for next year. COGS sold has been estimated at fifty percent of sales. Product purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at fifteen percent of sales and are paid during the month of sale. Other operating costs amounting to twenty percent of sales are to be paid in the mo. following the mo. of sales. Sales revenue is forcasted as follows:
Month Sales
Feb $760,000
Mar $492,000
Apr $830,000
May $750,000
Jun $818,000
What is the amount of gargoyle purchases during the month of April?