Astrik Ltd anticipates the following will occur in February. 1. Sales are expected to be $420...

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Astrik Ltd anticipates the following will occur in February. 1. Sales are expected to be $420 000. 2. Bad debts are estimated to be 2% of sales. They are recognised in the month of sale for budgeting purposes. E.T meid 3. Discount allowed is expected to be 1% of sales. LT bris Sm long Jae 000 00s 2000 4. Inventory is $94 500 at the start of February. It is expected to increase by $13500 by the end of the month. 5. Goods are sold with a 50% mark up on cost. 6. Other expenses are expected to be: enA Marketing -Fixed $7000 -Variable 5% of sales Administration -Fixed $24 200 -Variable 3% of sales 1+ 50%. 008 308 Required Prepare the budgeted income statement for the month of February. mah ns1.1-3 amaldo (agum 000 the month Astrik Ltd anticipates the following will occur in February. 1. Sales are expected to be $420 000. 2. Bad debts are estimated to be 2% of sales. They are recognised in the month of sale for budgeting purposes. E.T meid 3. Discount allowed is expected to be 1% of sales. LT bris Sm long Jae 000 00s 2000 4. Inventory is $94 500 at the start of February. It is expected to increase by $13500 by the end of the month. 5. Goods are sold with a 50% mark up on cost. 6. Other expenses are expected to be: enA Marketing -Fixed $7000 -Variable 5% of sales Administration -Fixed $24 200 -Variable 3% of sales 1+ 50%. 008 308 Required Prepare the budgeted income statement for the month of February. mah ns1.1-3 amaldo (agum 000 the month

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ASTRIK LTD Budgeted income statement for the month of Febr... View the full answer