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4. Jack and Jill Enterprises are using the kaizen approach to budgeting for 2020. The budgeted income statement for January 2020 is as follows: Sales

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4. Jack and Jill Enterprises are using the kaizen approach to budgeting for 2020. The budgeted income statement for January 2020 is as follows: Sales (168,000 units) $1,080,000 Less: Cost of goods sold 650,000 Gross margin 430,000 Operating expenses 330,000 (includes $60,000 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. What is budgeted cost of goods sold for March 202020? A) $637,065 B) $656,500 C) $650,000 D) $643,500

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