Home Insert Draw Page Layout Formulas Data Review X Century Gothic V 11 V A A == > Paste BIUV A J1 49 XVfx A B C D March E COGS F G H Class Project - Fall 2 View Tell me 81 ab Wrap Text Gene Merge & Center v $ 50 23 55555555 51 E. 52 53 54 55 56 57 69 58 59 88 60 61 62 F. 63 64 65 66 67 68 Sales Revenue less Cost of Goods Sold (COGS) = Gross Margin. Calculate your Budgeted Gross Margin and Budgeted Gross Margin Ratio for each of the first 3 months: 1. Gross Margin: January February March 2. Gross Margin Ratio: January February March + Regarding the Operating Expenses you mentioned in problem #A4, what are the total of these Budgeted Operating Expenses (period costs) for each month: 1. Operating Expenses: January February March 69 G. 70 Gross Margin less Operating Expenses = Operating Income. Calculate your Budgeted Operating Income for each of the first 3 months: 1. Operating Income: 71 72 73 74 75 76 H. 77 78 1. 79 2. 80 81 82 83 I. 888 January February March Using the information you have budgeted so far, prepare a Budgeted Income Statement for each of the first 3 months, as well as for the Quarter Ending March 31st (3 months combined). Budgeted Income Statement for January Budgeted Income Statement for February 3. Budgeted Income Statement for March 4. Budgeted Income Statement for Quarter Ending 3/31/2020 You have listed many different expenses for your company. For each of the expenses, list whether they are 1) variable, fixed, or mixed, 2) product or period, and 3) direct or indirect Raw Materials 84 85 1. 86 2. Direct Labor 87 3. Manufacturing Overhead 88 4. The 10 Operating Expenses you listed in #A5