Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate Given information: Cost of goods sold is 60% of sales revenue Selling and administration expenses are 10% of sales revenue Expected sales by Person F is 8% and by Person B is 5%

Question

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Answer 1

Question

Chapter 14, Problem 15E

a)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

b)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person B’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

c)

To determine

The reason for the different estimates by two officers

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Answer 2

Question

Chapter 14, Problem 15E

a)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

b)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person B’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

c)

To determine

The reason for the different estimates by two officers

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 3

Question

Chapter 14, Problem 15E

a)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

b)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person B’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

c)

To determine

The reason for the different estimates by two officers

Expert Solution & Answer

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See solution

Answer 4

Question

Chapter 14, Problem 15E

a)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

b)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person B’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

c)

To determine

The reason for the different estimates by two officers

Expert Solution & Answer

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Answer 5

Chapter 14, Problem 15E

a)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

b)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person B’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

c)

To determine

The reason for the different estimates by two officers

Answer 6

Chapter 14, Problem 15E

a)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

Answer 7

Chapter 14, Problem 15E

a)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

Answer 8

b)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person B’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

Answer 9

b)

To determine

Prepare the pro forma income statement including quarterly budgets as per Person B’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

Answer 10

c)

To determine

The reason for the different estimates by two officers

Answer 11

c)

To determine

The reason for the different estimates by two officers

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

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Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate Given information: Cost of goods sold is 60% of sales revenue Selling and administration expenses are 10% of sales revenue Expected sales by Person F is 8% and by Person B is 5%

Solution Summary: The author explains the reason for the different estimates by two officers. The element of forecasting because it cannot be accurate at 100%.

Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

Prepare the pro forma income statement including quarterly budgets as per Person B’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

The reason for the different estimates by two officers

Want to see the full answer?

Chapter 14 Solutions

Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate Given information: Cost of goods sold is 60% of sales revenue Selling and administration expenses are 10% of sales revenue Expected sales by Person F is 8% and by Person B is 5%

Solution Summary: The author explains the reason for the different estimates by two officers. The element of forecasting because it cannot be accurate at 100%.

Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate Given information: Cost of goods sold is 60% of sales revenue Selling and administration expenses are 10% of sales revenue Expected sales by Person F is 8% and by Person B is 5%

Prepare the pro forma income statement including quarterly budgets as per Person B’s estimate Given information: Cost of goods sold is 60% of sales revenue Selling and administration expenses are 10% of sales revenue Expected sales by Person F is 8% and by Person B is 5%

The reason for the different estimates by two officers

Want to see the full answer?

Chapter 14 Solutions

Prepare the pro forma income statement including quarterly budgets as per Person A’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%

Prepare the pro forma income statement including quarterly budgets as per Person B’s estimate

Given information:

Cost of goods sold is 60% of sales revenue

Selling and administration expenses are 10% of sales revenue

Expected sales by Person F is 8% and by Person B is 5%