Budgeted Income Statement Questions

This quiz is a 15 minute timed test consisting of 10 multiple choice questions and will test you on the theory above as well as the components of the income statement and various calculations including incomes expenses gross and net profit.

Budgeted income statement questions. Budgeted income statement and supporting budgets the budget director of feathered friends inc with the assistance of the controller treasurer production manager and sales manager has gathered the following data for use in developing the budgeted income statement for december. 3 550 000 revenue less operating expenses. Solution for budgeted income statement and supporting budgets the budget director of feathered friends inc with the assistance of the controller treasurer. Click here to take the income statement quiz now.

Salaries 2 400 000 63 000 accounting services training 182 000 supplies 175 000. Cash 99 600 accounts receivable 173 300 finished goods 36 400. Sales volume is expected to fall by 5 percent but prices are expected to rise by 17 percent. Bird house 3 200 units at 50 per unit.

Re prepare a budgeted income statement for problem 10 7. Budgeted income statement and balance sheet as a preliminary to requesting budget estimates of sales costs and expenses for the fiscal year beginning january 1 20y9 the following tentative trial balance as of december 31 20y8 is prepared by the accounting department of regina soap co. Material costs per unit are expected to increase by 8 percent. Estimated sales for december.