1) How to calculate Budgeted (partial) income statement? (In details please)

2) How to calculate cost of goods available for sale and cost of goods manufactured?

Axiom Mobile Plus company approached you as a Management Accounting expert to assist them in preparing their 2018 budget. They provided you with the following data: . The company is manufacturing and selling two models of the branded Mobile: O Model 1 o Model 2 Expected number of units to be sold in 2018 O Model 1: 15,000 units o Model 2: 10,000 units Expected selling Price: O Model 1: $250 o Model 2: $200 . Each model requires 5 components O Camera (Model 1 has 2 Cameras, while Model 2 has only 1 Camera). o Keypad Screen O Frame O Motherboard. . Component prices are as follows: O Camera: $15 o Keypads: $10 O Screen: $20 Frame: $3 O Motherboard: $12 0 . The company already had a beginning inventory of 3,000 units of each of the above components at a cost of: O Camera: $12.50 o Keypads: $9 O Screen: $18 o Frame: $2.75 o Motherboard: $11.50 No ending inventory of any component item or finished goods is required. . Both Mobile Models require 5.5 hours of labor at a cost of $5.00 per hour to be manufactured. . Overhead is allocated at a rate of $15 per direct labor hour. Required: . Prepare the following budgets: 1. Sales Budget 2. Purchased Material Budget 3. Direct Labor Budget 4. Overhead Budget 5. Budgeted (partial) income statement