Estimated salesSalesPurchasesEnding inventoryAdministrative salariesMarketing expenseSales commissionsRent expenseDepreciation expenseUtilitiesTaxes15%****of next month's sales**of sales***of income before taxesSales are expected to increase each month by 10%. Prepare a budgeted income statement.$560,000567,923294,82350,3207,5001,1002,50010%*5%**2%**

Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

Estimated sales Sales Purchases Ending inventory Administrative salaries Marketing expense Sales commissions Rent expense Depreciation expense Utilities Taxes $560,000 567,923 294,823 50,320 7,500 1,100 2,500 10%* 5%** 2%** 15%*** *of next month's sales **of sales ***of income before taxes Sales are expected to increase each month by 10%. Prepare a budgeted income statement.

Estimated sales Sales Purchases Ending inventory Administrative salaries Marketing expense Sales commissions Rent expense Depreciation expense Utilities Taxes $560,000 567,923 294,823 50,320 7,500 1,100 2,500 10%* 5% 2% 15%*** of next month's sales of sales of income before taxes Sales are expected to increase each month by 10%. Prepare a budgeted income statement.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 34E: A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and...

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Question 1 The marketing department of HASF Corporations has submitted the following sales forecast for the upcoming fiscal year (all sales are on account) Q1 Q2 Q3 Q4 total Budgeted units sales ? 10% increase 10 % decrease 16,335 62,685 Budget selling price per unit 18 18 18 ? 18 budgeted sales revenue ? 297,000 ? 294,030 ? Other information Each quarter ending finished goods inventory is 20% of next month units sold. Next year first quarter beginning inventory is 3,000. Each finished units require 3 grams of raw material that cost Rs 3 per unit. Management desired to end each quarter with an inventory of raw material equal to 15% of the current quarter production needs Beginning inventory of raw material in first quarter 3,000 grams FIND UNIT SALES of Q1 Answer format should be like : 10000 donot USE COMMA's or Currency or UNITs. Answer should be plain…
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