How do I solve for the chart? Santana Rey expects second quarter 2022 net income of Business Solutions's line of computer furniture to be the same as the firstquarter's net income (reported below) without any changes in strategy. Sales were 120 desk units (sales price of $1,250) and 60 chairs(sales price of $500).tSalestCost of goods sold*Gross profitSelling, general, and administrative expensesSales commissions (10%)BUSINESS SOLUTIONS-Computer Furniture SegmentSegment Income Statement*For Quarter Ended March 31, 2022Advertising expensesGeneral and administrative expensesNet incomeLMay eller 40Reflects activity only related to the computer furniture segment.Sales: (120 desks x $1,250) + (60 chairs x $500) = $180,000.‡Cost of goods sold: (120 desks × $750) + (60 chairs × $250) = $105,000.Required 1 Required 2SHE DHEP$ 18,0009,00018,000shus came volarSantana believes that sales will total 156 desks and 105 chairs for the next quarter if selling prices are reduced to $1,150 for desks and$450 for chairs and advertising expenses are increased to $12,000 for the quarter. Product costs per unit and amounts of all otherexpenses will not change.Complete this question by entering your answers in the tabs below.Required:1. Prepare a budgeted income statement for the computer furniture segment for the quarter ended June 30, 2022, that shows theresults from implementing the proposed changes.2. Do the proposed changes increase or decrease budgeted net income for the quarter?$ 180,000105,00075,000BUSINESS SOLUTIONS-COMPUTER FURNITURE SEGMENT45,000$ 30,000Prepare a budgeted income statement for the computer furniture segment for the quarter ended June 30, 2022, that showsthe results from implementing the proposed changes.< Prev3 of 411Next > 1. Prepare a budgresults from implementing the proposed changes.2. Do the proposed changes increase or decrease budgeted net income for the quarter?Complete this question by entering your answers in the tabs below.Required 1 Required 2Prepare a budgeted income statement for the computer furniture segment for the quarter ended June 30, 2022, that showsthe results from implementing the proposed changes.BUSINESS SOLUTIONS-COMPUTER FURNITURE SEGMENTNet incomeBudgeted Income StatementsFor Three Months Ended June 30, 2022Selling, general and administrative expenses< Required 1$000Required 2 >vs the

Name: How do I solve for the chart? Santana Rey expects second quarter 2022
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Description: How do I solve for the chart? Santana Rey expects second quarter 2022 net income of Business Solutions's line of computer furniture to be the same as the firstquarter's net income (reported below) without any changes in strategy. Sales were 120 desk

The budgeted Income statement means which shows whether the changes going to be made are profitable…

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BUSINESS SOLUTIONS-Computer Furniture Segment Segment Income Statement* For Quarter Ended March 31, 2022 Sales Cost of goods sold* Gross profit Selling, general, and administrative expenses Sales commissions (10%) Advertising expenses General and administrative expenses Net income $ 18,000 9,000 18,000 Reflects activity only related to the computer furniture segment. † Sales: (120 desks x $1,250) + (60 chairs x $500) = $180,000. # Cost of goods sold: (120 desks * $750) + (60 chairs x $250) = $105,000. $ 180,000 105,000 75,000 45,000 $ 30,000 Santana believes that sales will total 156 desks and 105 chairs for the next quarter if selling prices are reduced to $1,150 for desks and $450 for chairs and advertising expenses are increased to $12,000 for the quarter. Product costs per unit and amounts of all other expenses will not change. Required: 1. Prepare a budgeted income statement for the computer furniture segment for the quarter ended June 30, 2022, that shows the results from implementing the proposed changes. 2. Do the proposed changes increase or decrease budgeted net income for the quarter?

BUSINESS SOLUTIONS-Computer Furniture Segment Segment Income Statement* For Quarter Ended March 31, 2022 Sales Cost of goods sold* Gross profit Selling, general, and administrative expenses Sales commissions (10%) Advertising expenses General and administrative expenses Net income $ 18,000 9,000 18,000 Reflects activity only related to the computer furniture segment. † Sales: (120 desks x $1,250) + (60 chairs x $500) = $180,000. # Cost of goods sold: (120 desks * $750) + (60 chairs x $250) = $105,000. $ 180,000 105,000 75,000 45,000 $ 30,000 Santana believes that sales will total 156 desks and 105 chairs for the next quarter if selling prices are reduced to $1,150 for desks and $450 for chairs and advertising expenses are increased to $12,000 for the quarter. Product costs per unit and amounts of all other expenses will not change. Required: 1. Prepare a budgeted income statement for the computer furniture segment for the quarter ended June 30, 2022, that shows the results from implementing the proposed changes. 2. Do the proposed changes increase or decrease budgeted net income for the quarter?

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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