Blackboard Learn a WebAdvisor Main Cengage Sign In Easy Bb eBook Calculator Print Item Budgeted Income Statement and Balance Sheet As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 2049, the following tentative trial balance as of December 31, Oys, is prepared by the Accounting Department of Regina Soap Co. Cash $112,100 Accounts Receivable 190,600 Finished Goods 40,000 Work in Process 26,700 Materials 43,800 Prepaid Expenses 3,200 Plant and Equipment 574,000 Accumulated Depreciation Plant and Equipment $246,800 Accounts Payable 153,500 Common Stock, $10 par 350,000 240,100 Retained Earnings $990,400 $990,400 Factory output and sales for 2019 are expected to total 27,000 units of product, which are to be sold at $100 per unit. The quantities and costs of the inventories at December 31, boy, are expected to remain unchanged from the balances at the beginning of the year, Budget estimates of manufacturing costs and operating expenses for the year are summarized as follows: Estimated Costs and Expenses Fixed Variable FV Previo Check My Work Save and Submit Assigen All work saved. 12 Cengage Sign In can progress balse eBook Calculator Print item Fixed Van (Total for Year) (Per Unit Sold) $25 B $27,000 Cost of goods manufactured and sold: Direct materials Direct labor Factory overhead: Depreciation of plant and equipment Other factory overhead Selling expenses: Sales salaries and commissions Advertising Miscellaneous selling expense Administrative expenses 8,400 4.5 12.5 96,900 81,000 7,000 2 1 Office and officers salaries 63,700 Supplies 3,200 Miscellaneous administrative expense 1,700 1.5 Balances of accounts receivable, prepaid expenses, and accounts payable at the end of the year are not expected to differ significantly from the began Federal come to of $229,200 on 2049 taxable income will be paid during 2049. Regular quarterly cash dividends of $1 per share are expected to be dedored and purch, bestet und December on 35,000 shares of common stock outstanding. It is anticipated that fixed assets will be purchased for $155,000 cash in May Required: 1. Prepare a budgeted income statement for 2019, Check My Work AN work saved Vilm/takeAssignment/takeAssignment Main.do?invokeretakeAssignmentSessionLocator=&inprogress=false News Blackboard Learn WebAdvisor Main... Cengage Sign In Easy Bib eBook Calculator Print Item Required: 1. Prepare a budgeted income statement for 2049, Regina Soap Co. Budgeted Income Statement For the Year Ending December 31, 2049 Cost of goods sold:
