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ACCT 556
Week 6 Problem
Proforma Statements
The Duncan Company has just completed a number of budgets for the
coming year. The cost of goods manufactured schedule, the proforma
income statement and the balance sheet still have to be completed.
The following information is available:
Information from recent budgets for the coming year:
1. Projected sales are $1,800,000 (12,690 units)
2. Projected direct material purchases are $500,000
3. Projected direct material usage is $495,000
4. Projected direct labor expense is $400,000