Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Need some help calculating the figures in the Income Statement. The rest of the budgets are correct and Total Net Profit on the Income statement
Need some help calculating the figures in the Income Statement. The rest of the budgets are correct and Total Net Profit on the Income statement in green is correct (was already provided)
Finished Goods Inventory (Theraflu $5,596; Codeine $3,854)
Schedule 1 Sales Budget Theraflu Codeine Total Sales Revenue Budget Schedule 2 Production Budget (Units) Theraflu Budget Sales Target Ending Inventory Units Required Beginning Inventory Total Production Budget Codeine Budget Sales Target Ending Inventory Units Required Beginning Inventory Total Production Budget MASTER BUDGET July 42,000 16,500 Total Sept 44,000 $ 138,000 19,500 15,000 $ 51,000 $ 58,500 $ 71,500 $ 59,000 $ 189,000 July 2,100 1,040 3,140 635 2,505 1,100 520 1,620 295 1,325 Aug 52,000 Aug 2,600 880 3,480 1,040 2,440 1,300 400 1,700 520 1,180 Sept 2,200 1,080 3,280 880 2,400 1,000 360 1,360 400 960 Total 6,900 1,080 9,900 635 7,345 3,400 360 4,680 295 3,465 Oct 2,700 1,160 3,860 1,080 2,780 900 400 1,300 360 940
Step by Step Solution
★★★★★
3.30 Rating (159 Votes )
There are 3 Steps involved in it
Step: 1
Question Income Statement Particulars July Aug Sept Total Sales Less Cost of Go...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started