4 Cycle 1 is a fast growing start up firm that manufactures bicycles. The following income statement is available for October Sales revenue (590 units 5610 per unit) $359,900 6.25 noints 24,000 26,900 BOOK Manufacturing costs Variable costs Depreciation (fixed) Marketing and ministrative costs Fixed costs (cash) Depreciation (fixed) Total costs Operating profits Peint 67,000 22,300 $141,000 $218,960 References Sales volume is expected to increase by 20 percent in November, but the sales price is expected to fall 5 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 Cyde 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 Intermediate calculations.) CYCLE 1 Budgeted income Statement For the month of November 4 yedi. Required: Prepare a budgeted income statement for November. (Do not round intermediate cal 6.25 points CYCLE Budgeted Income Statement For the month of November eBook Print Less References Manufacturing costs Total manufacturing costs Less Marketing and Administrative Total marketing and administrative costs