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ashly138 ashly138
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6 years ago
Gimble Corporation is developing its budgets for 2016 and for the first time will use the Kaizen approach. The initial 2016 income statement, based on static data from 2015, is as follows:

Sales (320,000 units)   $960,000
Less: Cost of goods sold   672,000
Gross margin   $288,000
Operating expenses (includes $49,000 of fixed costs)   202,000
Net income   $86,000

Under the Kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 9%.

Required:
Prepare a Kaizen-based budgeted income statement for March of 2016.
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
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This site is awesome
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