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Home Q & A Board Other Fields Homework Help Business Accounting
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BrandyBraden BrandyBraden
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1 months ago
Morgan's, Inc. has provided you with the following financial information:

​​BudgetedActual
Sales quantity6,0006,200
Sales price per unit$    6.00$    5.75
Variable product cost per unit2.002.25
Selling expense (fixed)3,0006,000
Administrative expense (fixed)15,00014,000
Income tax expense1,8002,000

Required:

Prepare a static budget.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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crusherpsgcrusherpsg
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Morgan's, Inc.
Static Budget
Sales revenue $36,000
Cost of goods sold12,000
Gross profit24,000
Selling expense3,000
Administrative expense15,000
Income before taxes6,000
Income tax expense    1,800
Net income$  4,200
1

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