2. (9 points) V Inc. manufactures a product with a selling price of $60 per unit. Direct Materials costs $12 per unit. Direct Labor costs $11 per unit. Variable Manufacturing Overhead costs $6 per unit. Fixed Manufacturing Overhead costs $34,000 per month. Variable Selling and Administrative Costs $5 per unit. Fixed Selling and Administrative costs $17,000.

b) Complete the months Financial Statement Income Statement Budget for V Inc., assuming that they plan to sell 11,000 units of product. Total Sales Cost of Goods sold Gross Margin Selling and Administrative Costs Operating income

	Total
Sales
Cost of Goods Sold
Gross Margin
Selling and Administrative Costs
Operating Income