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Barbara Cheney, Pittman's controller, has just prepa Sales Pittman Company Budgeted Income Statemen For the Year Ended December Manufacturing expenses: Variable. Fixed overhead Gross margin

Barbara Cheney, Pittman's controller, has just prepa Sales Pittman Company Budgeted Income Statemen For the Year Ended December Manufacturing expenses: Variable. Fixed overhead Gross margin Selling and administrative expenses: Commissions to agents Fixed marketing expenses Fixed administrative expenses Net operating income Fixed interest expenses Income before income taxes Income taxes (30%) Net income $ 8,1 2,5 2,7 FLYTE 1,8 *Primarily depreciation on storage facilities. As Barbara handed the statement to Karl Vecci, Pit commission rate in completing these statements, E increase the commission rate to 20%."

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