Question

Cloutier Foods produces a specialty brownie that is sold to hotel chains by the case for $55 per case. For the upcoming quarter, Cloutier Foods is projecting the following sales:
The budgeted cost of manufacturing each case is $27. Operating expenses are projected to be $61,000 in January, $57,000 in February, and $64,000 in March. Cloutier Foods is subject to a corporate tax rate of 30%.
Requirement
Prepare a budgeted income statement for the first quarter, with a column for each month and for the quarter in total.


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  • CreatedApril 30, 2015
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