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Bill and Jose Enterprises are using the kaizen approach to budgeting for 2021. The budgeted income statement for January 2021 is as follows: $1,100,000 Sales (168,000 units) Less: Cost of goods sold 620,000 Gross margin 480,000 Operating expenses (includes $58,000 of fixed costs) 390,000 Operating income $90,000 Under the kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 2% per month. What is budgeted cost of goods sold for March 2021? O $607,600 O $620,000 O $595,448 $632,400

Bill and Jose Enterprises are using the kaizen approach to budgeting for 2021. The budgeted income statement for January 2021 is as follows: $1,100,000 Sales (168,000 units) Less: Cost of goods sold 620,000 Gross margin 480,000 Operating expenses (includes $58,000 of fixed costs) 390,000 Operating income $90,000 Under the kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 2% per month. What is budgeted cost of goods sold for March 2021? O $607,600 O $620,000 O $595,448 $632,400

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter7: The Master Budget And Flexible Budgeting
Section: Chapter Questions
Problem 5P: Selling and administrative expense budget and budgeted income statement Budgeted selling and...
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Bill and Jose Enterprises are using the kaizen approach to budgeting for 2021. The budgeted income statement for January 2021 is as follows: $1,100,000 Sales (168,000 units) Less: Cost of goods sold 620,000 Gross margin 480,000 Operating expenses (includes $58,000 of fixed costs) 390,000 Operating income $90,000 Under the kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 2% per month. What is budgeted cost of goods sold for March 2021? $607,600 $620,000 O $595,448 $632,400
Transcribed Image Text:Bill and Jose Enterprises are using the kaizen approach to budgeting for 2021. The budgeted income statement for January 2021 is as follows: $1,100,000 Sales (168,000 units) Less: Cost of goods sold 620,000 Gross margin 480,000 Operating expenses (includes $58,000 of fixed costs) 390,000 Operating income $90,000 Under the kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 2% per month. What is budgeted cost of goods sold for March 2021? $607,600 $620,000 O $595,448 $632,400
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