(12 pts) 8. The following information is available for 2022 for Anderson Incorporated:

Revenue (200,000 units) $1,600,000

Manufacturing costs:

Materials cash costs 100,000

Variable overhead cash costs 80,000

Fixed overhead cash costs 125,000

Manufacturing depreciation 300,000

Marketing and administrative costs:

Variable marketing cash costs 200,000

Marketing depreciation 50,000

Administrative cash costs 180,000

Administrative depreciation 20,000

Total costs $1,055,000 Operating income $545,000

All depreciation charges are expected to remain the same for 2023. Sales volume is expected to increase by 30 percent, but prices are expected to fall by 8 percent. Material cash costs are expected to decrease by 15 percent. Variable manufacturing overhead cash costs are expected to decrease by 8 percent per unit. Fixed manufacturing cash overhead costs are expected to increase by 12 percent.

Variable marketing cash costs change with volume. Administrative cash costs are expected to increase by 8 percent. Inventories are kept at zero.

Required:

Prepare a budgeted income statement for 2023.