his Question: 2 pts11 of 13 (0 complete)his Quiz: 20 pts po Suppose Everypage se

Question

his Question: 2 pts11 of 13 (0 complete)his Quiz: 20 pts po Suppose Everypage sells 1,100 hardcover books per day at an average price of $70. Assume that Everypage's cost for the books is 60% of the selling price it charges retail customers. Everypage has no beginning inventory, but it wants to have a three-day supply of ending inventory. Assume that selling and administrative expenses are $2,200 per day Determine Everypage's budgeted purchases for the next (seven-day) week. O A. $184,800 O B. $770,000 C. S323.400 O D. $462,000

Explanation / Answer

Calculate budgeted purchase :

Purchase cost per unit = 70*60% = 42 per unit

Purchase quantity = (1100*7)+(1100*3)-0 = 11000

Budgeted purchase for the next (seven day) week = 11000*42 = 462000

So answer is d) $462000

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