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Required: Complete lguana's budgeted income statement for quarter 2. (Round cost per unit in intermediate calculations and final answers to 2 decimal places.) Answer is
Required: Complete lguana's budgeted income statement for quarter 2. (Round cost per unit in intermediate calculations and final answers to 2 decimal places.) Answer is complete but not entirely correct. IGUANA, INC. Budgeted Income Statement For the Quarter Ending June 2nd Quarter Total April 9,000.00 $ 10,500.00 $ 13,500.000 3,600.00 4,200.00 5,400.00 13,200.00 May June Budgeted Sales Revenue Budgeted Cost of Goods Sold Budgeted Gross Margin $ 5,400.00 6,300.00 8,100.00 19,800.00 2,550.00 Budgeted Selling and Administrative Expenses 850.00 850.00 850.00 Budgeted Net Operating Income $ 4,550.00 $5,450.00 $ 7,250.00 17,250.00
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