exercise 1- Budgeting E22-31D Jet Company prepared the following budgeted Income statement for 2015: JET COMPANY Budgeted Income Statement For the Year Ended December 31, 2015 Unit Sales Sales Revenue ($300 per unit) $ Cost of Goods Sold (70% of sales) Gross Profit Selling and Administrative Expenses (20% of sales) Operating Income 400 120,000 84.000 36.000 24,000 12,000 Requirements 1. Prepare a budgeted income statement with columns for 200 units, 600 units, and 600 units sold. 2. How might managers use this type of budgeted income statement? Copyright 2018 Porn Exp anse 222