Rossdale Labs performs a specialty lab test for local companies for $ 46 per test. For the ­upcoming quarter, Rossdale Labs is projecting the following sales:

The budgeted cost of performing each test is $ 18. Operating expenses are projected to be $ 62,000 in January, $ 56,000 in February, and $ 59,000 in March. Rossdale Labs is subject to a corporate tax rate of 30%. Requirement Prepare a budgeted income statement for the first quarter, with a column for each month and for the quarter in total.

Transcribed Image Text:

January February March 5,800 4,400 5,600 Number of tests.