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please help solved the whole thing Fortune Incorporated is preparing its master budget for the first quarter. The company sells a single product at a
please help solved the whole thing
Fortune Incorporated is preparing its master budget for the first quarter. The company sells a single product at a price of $25 per unit. Sales (in units) are budgeted at 154,000 for the first quarter. Cost of goods sold is $12 per unit. Other expense information for the first quarter follows. Sales Commissions Rent Advertising office salaries Depreciation Interest Tax rate 98 of sales dollars $48,000 per quarter $585,000 per quarter $251,000 per quarter $134,000 per quarter 1.258 quarterly on $210,000 note payable 408 Prepare a budgeted income statement for the first quarter ended March 31. (Round your interraediate and final answers to the nearest whole dollar.) Prepare a budgeted income statement for the first quarter ended March 31. (Round your intermediate and final answers to the nearest whole dollar.) Step by Step Solution
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