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Sherry and John Enterprises are using the kaizen approach to budgeting for 2018. The budgeted income statement for January 2018 is as follows $1,060,000 Sales
Sherry and John Enterprises are using the kaizen approach to budgeting for 2018. The budgeted income statement for January 2018 is as follows $1,060,000 Sales (168,000 units) Less: Cost of goods sold 610,000 450,000 Gross margin Operating expenses (includes S51,000 of fixed costs) 380,000 $70,000 Operating income Under the kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 2% per month What is budgeted cost of goods sold for March 2018? OA. $585,844 B. $622,200 O c. $610,000 O D. $597,800
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