Budgeted Data (Basic Data)
For the Fiscal Year Ending December 31, 2023
	Most-Likely	Best-Case	Worst-Case
Expected Sales in Units	159,000	190,800	135,200
Revenue and Costs:	Per Unit	Per Year
Selling Price	$ 43.70
	Variable	Fixed
Direct Materials	$ 8.83
Direct Labor	4.50
Manufacturing Overhead	3.67	$ 239,800
Sales Salaries and Commissions	2.36	319,700
Other Selling Expenses	0.92	439,600
General and Administrative Expenses	0.57	999,100

1. Prepare an absorption format income statement for the three levels of volume provided in the basic data table. Be sure to include a proper heading.

2. Prepare a supporting schedule to compute Cost of Goods Sold (COGS). The schedule should provide the details of the items that must be included in COGS with a separate line for each cost that has its name and its amount and a total.

3. Prepare a supporting schedule to compute Operating Expenses. The schedule should provide the details of the items that must be included in the expenses with a separate line for each cost that has its name and its amount and a total.