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Hear Again manufactures hearing aid devices. For January, Hear Again expects to sell 900 hearing aid devices at an average price of $2,330 per unit.
Hear Again manufactures hearing aid devices. For January, Hear Again expects to sell 900 hearing aid devices at an average price of $2,330 per unit. Hear Again's average manufacturing cost each unit sold is $1,480. Variable operating expenses for Hear Again will be $1.80 per unit sold and fixed operating expenses are expected to be $7,800 for the month. Monthly interest expense is $3,100. Hear Again has a tax rate of 20% of income before taxes. Prepare Hear Again's budgeted income statement for January Hear Again Budgeted Income Statement For the Month Ended January 31 Sales Less: Cost of goods sold Gross profit Less: Operating expenses Variable portion Fixed portion Operating income Less: Interest expense Less: Provision for income taxes Net income
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