$317,400 24,000 27,800 Sales revenue (460 units @ $690 per unit) Less Manufacturing costs Variable costs Depreciation (fixed) Marketing and administrative costs Fixed costs (cash) Depreciation (fixed) Total costs Operating profits 65,500 22,900 $140,200 $177,200 Sales volume is expected to increase by 20 percent in November, but the sales price is expected to fall 10 percent. Variable manufacturing costs are expected to increase by 2 percent per unit in November. In addition to these cost changes, variable manufacturing costs also will change with sales volume. Marketing and administrative cash costs are expected to increase by 5 percent. Cycle-1 operates on a cash basis and maintains no inventories. Depreciation is fixed and should remain unchanged over the next three years. Required: Prepare a budgeted Income statement for November. (Do not round Intermedlate calculations.) CYCLE-1 Budgeted Income Statement For the month of November Sales revenue Less Manufacturing costs: Variable costs Depreciation (fixed) $ 0 AA $ 0 Total manufacturing costs Gross profit margin Less Marketing and Administrative Fixed costs (cash) Depreciation (fixed) Total marketing and administrative costs Operating profit $ 0 $