When developing a pro forma income statement, in what order are the steps typically completed 1 Determine profit by completing the actual pro forma statement 2 Compute other expenses 3 Establish a sales projection 4 Determine a production schedule and the associated use of new material, direct labor, and overhead to arrive at gross profit When developing a pro forma income statement, in what order are the steps typically completed 1 Determine profit by completing the actual pro forma statement 2 Compute other expenses 3 Establish a sales projection 4 Determine a production schedule and the associated use of new material, direct labor, and overhead to arrive at gross profit Multiple Choice 1,2,34 3,1,4,2 4,3,2,1 3,4,2,1

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Question: When developing a pro forma income statement, in what order are the steps typically completed? 1. Determine profit by completing the actual pro forma statement?

When developing a pro forma income statement, in what order are the steps typically completed? 1. Determine profit by completing the actual pro forma statement? 2. Compute other expenses. 3. Establish a sales projection. 4. Determine a production schedule and the associated use of new material, direct labor, and overhead to arrive at gross profit.

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