Sherry and John Enterprises are using the kaizen approach to budgeting for 2011. The budgeted income...

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Sherry and John Enterprises are using the kaizen approach to budgeting for 2011. The budgeted income statement for January 2011 is as follows: Sales (168,000 units) $1,000,000 Less: Cost of goods sold 600,000 Gross margin 400,000 Operating expenses (includes $50,000 of fixed costs) 300,000 Operating income $ 100,000 Under the kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 1% per month. What is budgeted cost of goods sold for March 2011? Sherry and John Enterprises are using the kaizen approach to budgeting for 2011. The budgeted income statement for January 2011 is as follows: Sales (168,000 units) $1,000,000 Less: Cost of goods sold 600,000 Gross margin 400,000 Operating expenses (includes $50,000 of fixed costs) 300,000 Operating income $ 100,000 Under the kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 1% per month. What is budgeted cost of goods sold for March 2011?

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Answer Budgeted Cost of goods sold for M... View the full answer