- Fortune Inc Is Preparing Its Master Budget For The First Quarter The Company Sells A Single Product At A Price Of 2 1 (33.4 KiB) Viewed 57 times
- Fortune Inc Is Preparing Its Master Budget For The First Quarter The Company Sells A Single Product At A Price Of 2 2 (37.78 KiB) Viewed 57 times
Fortune, Inc., is preparing its master budget for the first quarter. The
company sells a single product at a price of $25 per unit. Sales (in units) are forecasted at 35,000 for January, 55,000 for February, and 45,000 for March. Cost of goods sold is $12 per unit. Other expense Information for the first quarter follows. Commissions Rent Advertising Office salaries Depreciation Interest Tax rate 11% of sales dollars $ 24,000 per month 10% of sales dollars $77,000 per month $ 49,000 per month 12% annually on a $270,000 note payable a 3ex Prepare a budgeted income
statement for this first quarter. (Round your final answers to the nearest whole dollor.) FORTUNE, INC Budgeted Income
Statement For Quarter Ended March 31 Sales Operating expenses
FORTUNE, INC. Budgeted Income
Statement For Quarter Ended March 31 Sales Operating expenses 0 $ S 0