Explanation SM Budgeted Income statement for the year ended 1 St quarter 2 nd quarter 3 rd quarter 4 th quarter Total Sales $47,08,000 $44,88,000 $45,76,000 $45,32,000 $1,83,04,000 Cost of goods sold $18,83,200 $17,95,200 $ 18,30,400 $18,12,800 $73,21,600 Gross Profit $28,24,800 $26,92,800 $27,45,600 $27,19,200 $1,09,82,400 Operating expenses $16,47,800 $15,70,800 $11,44,000 $9,06,400 $52,69,000 Net income $11,77,000 $11,22,000 $16,01,600 $18,12,800 $57,13,400 Table: (1) Sales calculation based on last year’s revenue: Quarter: 1 7 % of $ 4 , 400 , 000 = $ 308 , 000 = $ 308 , 000 + $ 4 , 400 , 000 = $ 4 , 708 , 000 Quarter: 2 2 % of $ 4 , 400 , 000 = $ 88 , 000 = $ 88 , 000 + $ 4 , 400 , 000 = $ 4 , 488 , 000 Quarter: 3 4 % of $ 4 , 400 , 000 = $ 176 , 000 = $ 176 , 000 + $ 4 , 400 , 000 = $ 4 , 576 , 000 Quarter: 4 3 % <

Managerial Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (5th Edition)

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ISBN: 9780134642093

Author: Karen W. Braun, Wendy M. Tietz

Publisher: PEARSON

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Chapter 9, Problem 9.27AE

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The budgeted income statement for the company SM.

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Chapter 9, Problem 9.26AE

Chapter 9, Problem 9.28AE

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Managerial Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (5th Edition)

Ch. 9 - (Learning Objective 1) Which term describes the...Ch. 9 - (Learning Objective 1) Benefits of budgeting...Ch. 9 - Prob. 3QC Ch. 9 - Prob. 4QC Ch. 9 - Prob. 5QC Ch. 9 - Prob. 6QC Ch. 9 - Prob. 7QC Ch. 9 - Prob. 8QC Ch. 9 - Prob. 9QC Ch. 9 - Prob. 10QC

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The budgeted income statement for the company SM.

Solution Summary: The author explains the SM budgeted income statement for the year ended 1 St quarter 2nd quarter 3rd quarter 4th quarter.

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