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Q1) Gig Harbor Boating is wholesale distributor of small recreational catamaran sailboat. Management has created the following summary data to utilize in its annual budgeting process:

Butgeted unit sales 460
Selling price per unit $1,950
Cost per unit $1,575
Variable selling and administrative expense (per unit) $75
Fixed selling and administrative expense (per year) $105,000
Interest expense for the year $14,000

problem:

Create company budgeted income statement. Utilize absorption costing income statement format illustrated in schedule?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M918781

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