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Question
Bartholomew Manufacturing Company is preparing the operating budget for the first quarter of 2012. They forecast sales of $50,000 in January, $60,000 in February, and $70,000 in March. Cost of goods sold is budgeted at 40% of Sales. Variable and fixed expenses are as follows:
Variable: Miscellaneous expenses : 20% of Sales
Fixed: Salary expense: $11,000 per month
Rent expense: $5,000 per month
Depreciation expense: $1,200 per month
Miscellaneous expenses/fixed portion: $3,300 per month
How much is the operating net income/(loss) for February?
A) $3,500
B) $1,450
C) ($500)
D) $7,500
Answer
This answer is hidden. It contains 59 characters.
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