Godfrey Company prepared the following budgeted income statement for 2019. (Click the icon to view the budgeted income statement.) Read the requirements Requirement 1. Prepare a budgeted income statement with columns for 1,000 units, 1.200 units, and 1.400 units sold, Godfrey Company Budgeted Income Statement For the Year Ended December 31, 2019 Unit sales 1,000 1,200 1,400 Sales Revenue 450000 540000 756000 247500 297000 Cost of Goods Sold 415800 Gross Profit Selling and Administrative Expenses Operating Income Requirement 2. How might managers use this type of budgeted income statement? The budgeted income statement prepared in Requirement 1 is a flexible budget. It allows Godfrey's managers to plan for various sales level(s) Requirement 3. How might spreadsheet software such as Excel assist in this type of analysis? Technology, such as Excel spreadhseet software, makes it more cost-effective to conduct sensitivity or What if analysis and prepare a company's managers have a better understanding of how changes in sales volume and costs are likely to affect net income they can if key assumptions turn out to be wrong the following budgeted income statement for 2019: e budgeted income statement.) udgeted income statement with columns for 1,000 units, 1,200 units, and 1.400 u Godfrey Company Data Table - X Godfrey Company Budgeted Income Statement For the Year Ended December 31, 2019 Unit sales 69 1,200 540,000 297,000 Sales Revenue ($450 per unit) Cost of Goods Sold (55% of sales) Gross Profit Selling and Administrative Expenses (15% of sales) Operating Income atel 243,000 81,000 162,000 agh .cel Print they can Done pat-it and if key assumptions turn out to be wrong ey Company prepared the following budgeted income statement for 2019 Click the icon to view the budgeted income statement.) d the requirements quirement 1. Prepare a budgeted income statement with columns for 1,000 units, 1,200 units, and 1,400 units sold. Godfrey Company Budgeted Income Statement For the Year Ended December 31, 2019 Jnit sales 1,000 1,200 1,400 Sales Revenue 450000 540000 756000 Cost of Goods Sold 247500 297000 415800 Gross Profit Selling and Administrative Expenses Operating Income Requirement 2. How might managers use this type of budgeted Income statement? The budgeted income statement prepared in Requirement 1 is a flexible budget. It allows Godfrey's managers to plan for various sales level(s) Requirement 3. How might spreadsheet software such as Excel flexible of analysis? Technology, such as Excel spreadhseet software, makes it more static to conduct sensitivity or "what if analysis and prepare a company's if managers have a better understanding of how changes in sales volume and costs are likely to affect net income they can if key assumptions turn out to be wrong frey Company prepared the following budgeted income statement for 2019: (Click the icon to view the budgeted income statement.) ead the requirements equirement 1. Prepare a budgeted income statement with columns for 1.000 units, 1.200 units, and 1,400 units sold. Godfrey Company Budgeted Income Statement For the Year Ended December 31, 2019 Unit sales 1,000 1,200 Sales Revenue 450000 540000 Cost of Goods Sold 247500 297000 Gross Profit Selling and Administrative Expenses Operating Income 1,400 756000 415800 Requirement 2. How might managers use this type of budgeted Income statement? The budgeted income statement prepared in Requirement 1 is a flexible budget. It allows Godfrey's managers to plan for various sales level(s) Requirement 3. How might spreadsheet software such as Excel assist in this type of analysis? Technology, such as Excel spreadhseet software, makes it more cost-effective only a single prepare a company's to conduct sensitivity or 'what- various If managers have a better understanding of how changes in sales volume and costs are likely to affect net income they can if key assumptions turn out to be wrong mey Company prepared the following budgeted income statement for 2019: Click the icon to view the budgeted income statement.) ad the requirements equirement 1. Prepare a budgeted income statement with columns for 1,000 units, 1.200 units, and 1,400 units sold. the the Godfrey Company Budgeted Income Statement For the Year Ended December 31, 2019 1,000 1,200 Unit sales 450000 5 40000 Sales Revenue 247500 297000 Cost of Goods Sold Gross Profit Selling and Administrative Expenses Operating Income 1,400 756000 415800 Requirement 2. How might managers use this type of budgeted income statement? The budgeted income statement prepared in Requirement 1 is a flexible budget. It allows Godfrey's managers to plan for various sales level(s) Requirement 3. How might spreadsheet software such as Excel assist in this type of analysis? Technology, such as Excel spreadhsoet software, makes it more cost-effective to conduct sensitivity or "what if analysis and prepare a company's If managers have a better anges in sales volume and costs are likely to altea net income they can cost-effective is turn out to be wrong. time-consuming CE505 #perating Income Requirement 2. How might managers use this type of budgeted income statement? The budgeted income statement prepared in Requirement 1 is a flexible budget. It allows Godfrey's managers to plan for various sales level(s) Requirement 3. How might spreadsheet software such as Excel assist in this type of analysis? Technology, such as Excel spreadset software, makes it more cost-effective prepare a company's managers have a better understanding of how change to conduct sensity or "what if analysis and afect net income , they can | if key assumptions tur financial statement analysis sensitivity or 'what-if analysis En any number in the eart felds and then continue to the next que Requirement 2. How might managers use this type of budgeted income statement? The budgeted income statement prepared in Requirement 1 is a flexible budget. It allows Godfrey's managers to plan for various sales level(s) Requirement 3. How might spreadsheet software such as Excel assist in this type of analysis? Technology, such as Excel spreadhseet software, makes it more cost-effective to conduct sensitivity or 'what-ir analysis and prepare a company's If managers have a better understanding of how changes in sales volume and costs are likely to affect net income if key assumptions turn out to be wrong annual report master budget Requirement 2. How might managers use this type of budgeted income statement? The budgeted income statement prepared in Requirement 1 is a flexible budget. It allows Godfrey's managers to plan for various sales level(s) Requirement 3. How might spreadsheet software such as Excel assist in this type of analysis? Technology, such as Excel spreadhseet software, makes it more cost-effective to conduct sensitivity or 'what-if analysis and prepare a company's If managers have a better understanding of how changes in sales volume and costs are likely to affect net income they can if key assumptions turn out to be wrong net income the annual report Requirement 2. How might managers use this type of budgeted Income statement? The budgeted income statement prepared in Requirement 1 is a flexible budget. It allows Godfrey's managers to plan for various sales level(s) Requirement 3. How might spreadsheet software such as Excel assist in this type of analysis? Technology, such as Excel spreadset software, makes it more cost-effective to conduct sensitivity or what if analysis and prepare a company's of managers have a better understanding of how changes in sales volume and costs are likely to ated net income they can if key assumptions turn out to be wrong maintain the same course of action react quickly and make changes