blake lake is preparing the operating budget for the first month of 2024. They forecast sales of
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Question:
blake lake is preparing the operating budget for the first month of 2024. They forecast sales of $90,000 in January. Cost of goods sold is budgeted at 45% of Sales. Variable and fixed expenses are as follows:
Variable:
Miscellaneous expenses : 10% of Sales
Fixed:
Salary expense: $22,000 per month
Rent expense: $8,000 per month
Depreciation expense: $2,000 per month
Miscellaneous expenses/fixed portion: $1,000 per month.
What is the budgeted operating Profit/(Loss) for January?
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