C. Prepare a budgeted income statement, assuming 600 units to be produced and sold, a per...

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C. Prepare a budgeted income statement, assuming 600units to be produced and sold, a per unit selling price of $85, anincome tax rate of 28% and the following information.
Cost of goods sold of $35 per unit
Labor = $400/month
One part-time employee will be hired to take care ofpackaging and shipping. This employee will be paid $10 per hour. Heor she is estimated to work 40 hours total per month.
Advertising fees = $3,000
Bank fees = $200
Phone/internet = $150 per month
Shipping = $3 per unit
Utilities = $100 per month
Office Supplies = $900
Conference Exhibitor Fee = $3000
Travel Expenses for Conference (e.g. airfare, meals,taxi) = $1200
Based on the budgeted income statement calculated abovefor 20XY, create a new budgeted income for 20XZ assuming that theproduction and sales is double the level of 20XY.

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Solution BUDGETED INCOME STATEMENT FOR THE YEAR 20XY Amount INCOME Sales 600 85 5100000 Less Cost of goods sold 600 35 2100000 Gross Profit 3000000 OPERATING EXPENSES Labor 400 12 months 480000 Wage to part time See Answer

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C. Prepare a budgeted income statement, assuming 600units to be produced and sold, a per unit selling price of $85, anincome tax rate of 28% and the following information.Cost of goods sold of $35 per unitLabor = $400/monthOne part-time employee will be hired to take care ofpackaging and shipping. This employee will be paid $10 per hour. Heor she is estimated to work 40 hours total per month.Advertising fees = $3,000Bank fees = $200Phone/internet = $150 per monthShipping = $3 per unitUtilities = $100 per monthOffice Supplies = $900Conference Exhibitor Fee = $3000Travel Expenses for Conference (e.g. airfare, meals,taxi) = $1200Based on the budgeted income statement calculated abovefor 20XY, create a new budgeted income for 20XZ assuming that theproduction and sales is double the level of 20XY.