Sherry and John Enterprises are using the kaizen approach to budgeting for 2015. The budgeted income statement for January 2015 is as follows: Sales (168,000 units) $1,000,000 Less: Cost of goods sold 600,000 Gross margin 400,000 Operating expenses 300,000 (includes $50,000 of fixed costs) Operating income $ 100,000 Under the kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 1% per month.
8)	What is budgeted cost of goods sold for March 2015?

9)

What is budgeted gross margin for March 2015?

10)	What is the budgeted operating income for February 2015?