Use the following data for problems 10-12: Barth Company is preparing the operating budget for the first quarter of 2024. They forecast sales of $75,000 in January, $80,000 in February, and $85,000 in March. Cost of goods sold is budgeted at 45% of Sales. Variable and fixed expenses are as follows: Variable: Miscellaneous expenses: 22% of Sales Fixed: Salary expense: $15,000 per month Rent expense: $3,000 per month Depreciation expense: $2,000 per month Miscellaneous expenses/fixed portion: $1,000 per month

Use the following data for problems 10-12: Barth Company is preparing the operating budget for the first quarter of 2024. They forecast sales of $75,000 in January, $80,000 in February, and $85,000 in March. Cost of goods sold is budgeted at 45% of Sales. Variable and fixed expenses are as follows: Variable: Miscellaneous expenses: 22% of Sales Fixed: Salary expense: $15,000 per month Rent expense: $3,000 per month Depreciation expense: $2,000 per month Miscellaneous expenses/fixed portion: $1,000 per month

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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