Gimble Corporation is developing its budgets for 2016 and for the first time will use the Kaizen approach.The initial 2016 income statement,based on static data from 2015,is as follows:

Under the Kaizen approach,cost of goods sold and variable operating expenses are budgeted to decline by 9%.
Required:
Prepare a Kaizen-based budgeted income statement for March of 2016.

Question

Gimble Corporation is developing its budgets for 2016 and for the first time will use the Kaizen approach.The initial 2016 income statement,based on static data from 2015,is as follows:
  
Under the Kaizen approach,cost of goods sold and variable operating expenses are budgeted to decline by 9%.
Required:
Prepare a Kaizen-based budgeted income statement for March of 2016.

Quizplus · Accepted Answer

The Answer of Gimble Corporation is developing its budgets for 2016 and for the first time will use the Kaizen approach.The initial 2016 income statement,based on static data from 2015,is as follows:
  
Under the Kaizen approach,cost of goods sold and variable operating expenses are budgeted to decline by 9%.
Required:
Prepare a Kaizen-based budgeted income statement for March of 2016.

Gimble Corporation Is Developing Its Budgets for 2016 and for the First