For EVERY transaction, the accountant enters the a. year, month, ...

[Alygatorr01285]

For EVERY transaction, the accountant enters the
 a. year, month, and day.
   b. month and day.
   c. day.
   d. year and day.

Question 2

What is budgeted cost of goods sold for March 2015?
 
  Sherry and John Enterprises are using the kaizen approach to budgeting for 2015. The budgeted income statement for January 2015 is as follows:
 
   Sales (168,000 units) 1,000,000
   Less: Cost of goods sold 600,000
   Gross margin 400,000
   Operating expenses 300,000
   (includes 50,000 of fixed costs)
   Operating income  100,000
 
  Under the kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 1 per month.
 
  A) 588,060
  B) 592,000
  C) 600,000
  D) 594,000

[swimkari]

Answer to Question 1

c

Answer to Question 2

Answer: A