Smith Manufacturing has prepared the following budgeted information for January 2005:

Required: Prepare a budgeted income statement for January 2005 for Smith Manufacturing.

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Budgeted Sales in Units Budgeted Sales Price Smith Manufacturing Sales Budget For January 2005 = Budgeted Sales Dollars Budgeted Sales in Units x Budgeted Cost per Unit Smith Manufacturing Cost of Goods Sold Budget For January 2005 = Budgeted Cost of Goods Sold Salaries and Wages Rent Depreciation 3,300 200 $660.000 3,300 110 $363,000 Smith Manufacturing Selling and Administrative Expense Budget Other Budgeted S&A Expense For January 2005 $101,500 64,000 53,200 2,300 $221,000