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You will prepare a static master budget, budgeted financial statements and a flexible budget/variance analysis...

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Accounting

You will prepare a static master budget, budgeted financial statements and a flexible budget/variance analysis for Karry No Key, Inc. which will sell karaoke machines.
Assumptions: You plan to form Karry No Key on April 1 and expect the following:
Invest in exchange for stock
Purchase delivery truck with cash
with $0 salvage value and expected useful life in years
Sales increase per month
Collections in month of sale
Collections of remainder in following month of sale
Desired ending inventory (% of next month's expected sales)
Payments in month of purchase
Payments of remainder in following month of purchase
Other operating expenses per month to be paid in month incurred
\table[[$,100,000],[$,60,000],[,10],[,2%
Please fill out all yellow slots.
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