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3. Please Answer the full question and i Will leave a positive rating. Thank you! Income Statement Pietro Frozen Foods, Inc., produces frozen pizzas. For
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Please Answer the full question and i Will leave a positive rating. Thank you!
Income Statement Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 48,200 units will be produced, with the following total costs: Next year, Pietro expects to purchase $117,000 of direct materials. Projected beginning and ending inventories for direct materials and work in as follows: Next year, Pietro expects to produce 48,200 units and sell 47,500 units at a price of $15.00 each. Beginning inventory of finished $4500, and ending inventory of finished goods is expected to be $37,000. Total selling expense is projected at $28,500, and total at $108,000. Required: 1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, .88349 would be rounded to .8835 and entered as 88.35. Note: due to rounding, percentages may not add down. 2. What if the cost of goods sold percentage for the past few years was 58.94 percent? Management's reaction might beStep by Step Solution
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