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Cornerstones of Cost Accounting 1st Edition by Don Hansen,Maryanne Mowen
النسخة 1الرقم المعياري الدولي: 978-0538736787Cornerstones of Cost Accounting 1st Edition by Don Hansen,Maryanne Mowen
النسخة 1الرقم المعياري الدولي: 978-0538736787 تمرين 48
Budgeted Income Statement
Coral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects sales of $15.9 million and cost of goods sold of $8.75 million. Advertising is a key part of Coral Seas' business strategy, and total marketing expense for the year is budgeted at $2.8 million. Total administrative expenses are expected to be $675,000. Coral Seas has no interest expense. Income taxes are paid at the rate of 40 percent of operating income.
Required:
1. Construct a budgeted income statement for Coral Seas Jewelry Company for the coming year.
2. What if Coral Seas had interest payments of $500,000 during the year? What effect would that have on operating income? On income before taxes? On net income?
Coral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects sales of $15.9 million and cost of goods sold of $8.75 million. Advertising is a key part of Coral Seas' business strategy, and total marketing expense for the year is budgeted at $2.8 million. Total administrative expenses are expected to be $675,000. Coral Seas has no interest expense. Income taxes are paid at the rate of 40 percent of operating income.
Required:
1. Construct a budgeted income statement for Coral Seas Jewelry Company for the coming year.
2. What if Coral Seas had interest payments of $500,000 during the year? What effect would that have on operating income? On income before taxes? On net income?
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موثّق
1.
Budgeted Income Statement:
The Budge...
Cornerstones of Cost Accounting 1st Edition by Don Hansen,Maryanne Mowen
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