also this

prepare the budgeted multiple-step income statement for 2022 (ignore income taxes)

Prepare the budgeted multiple-step income statement for 2022. (Ignore income taxes.) Bonita Company is preparing its budgeted income statement for 2022 . Relevant data pertaining to its sales, production, and direct. materials budgets are as follows: Sales. Sales for the year are expected t total 1,160,000 units. Quarterly sales are 21%,27%,27%, and 25%, respectively, The unit selling price is expected to be $42 for the first three quarters and $44 beginning in the fourth quarter. Sales in the first quarter of 2023 are expected to be 10% higher than the budgeted sales for the first quarter of 2022. Production. Management desires to maintain the ending finished goods inventories at 20% of the next quarter's budgeted sales volume. Direct materials. Each unit requires 2 pounds of raw materials at a cost of $11 per pound. Management desires to maintain raw materiais inventories at 10% of the next quarter's production requirements. Assume the production requirements for first quarter of 2023 are 522,000 pounds. Bonita budgets 0.4 hours of direct labor per unit, labor costs at $12 per hour, and manufacturing overhead at $18 per direct labor hour. Its budgeted selling and administrative expenses for 2022 are $6,960,000