Budgeted total sales, all on account Budgeted direct materials to be purchased and used Budgeted direct labor cost Budgeted manufacturing overhead costs 305,000 32,000 10,500 Variable manufacturing overhead Depreciation Insurance and property taxes 2,700 1,500 1,400 71,500 Budgeted cost of goods sold Budgeted selling and administrative expenses Salaries expense Rent expense Insurance expense Depreciation expense Supplies expense 10,000 4,500 1,800 300 9,150- Budgeted cash receipts from customers Budgeted income tax expense Budgeted purchase and payment for capital expenditures (additional equipment) 265,000 41,000 36,000