Answer the Following Question(s)using the Information Below

question 171

Essay

Answer the following question(s)using the information below.Sherry and John Enterprises are using the Kaizen approach to budgeting for 2019.The budgeted income statement for January 2019 is as follows:
Under the Kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 1% per month.
-Brad Corporation is developing its budgets for 2019 and for the first time will use the Kaizen approach.The initial 2019 income statement, based on static data from 2018, is as follows:
Under the Kaizen approach, cost of goods sold and variable operating expenses are budgeted to decline by 12%.Required:
Prepare a Kaizen-based budgeted income statement for March of 2019.

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Definitions:

Smart

Possessing intelligence and quickness of understanding, often used to describe someone who is intellectually able or clever.

Mindfully

Refers to the act of being present and fully engaged with one’s surroundings and activities without being overly reactive or overwhelmed by what’s going on around us.

Single-trait Approach

A psychological methodology focusing on how one trait in a person’s personality influences their behavior across different situations and contexts.

Many-trait Approach

A method in personality psychology that examines the relationship between a wide array of traits and a specific behavior or outcome, aiming to understand personality as a complex interplay of many traits.