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clmt2010 clmt2010
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5 years ago
Sherry and John Enterprises are using the kaizen approach to budgeting for 2018. The budgeted income statement for January 2018 is as follows:

Sales (168,000 units) $1,080,000
Less: Cost of goods sold    650,000
Gross margin430,000
Operating expenses 330,000
(includes $60,000 of fixed costs)
Operating income $100,000

Under the kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 1% per month.

What is budgeted cost of goods sold for March 2018?
A) $637,065
B) $656,500
C) $650,000
D) $643,500
Textbook 
Cost Accounting: A Managerial Emphasis

Cost Accounting: A Managerial Emphasis


Edition: 16th
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