C. Prepare a budgeted income statement, assuming 600 units to be produced and sold, a per unit selling price of $85, an income tax rate of 28% and the following information.

1. 1. Cost of goods sold of $35 per unit

   2. Labor = $400/month

      • One part-time employee will be hired to take care of packaging and shipping. This employee will be paid $10 per hour. He or she is estimated to work 40 hours total per month.

   3. Advertising fees = $3,000

   4. Bank fees = $200

   5. Phone/internet = $150 per month

   6. Shipping = $3 per unit

   7. Utilities = $100 per month

   8. Office Supplies = $900

   9. Conference Exhibitor Fee = $3000

   10. Travel Expenses for Conference (e.g. airfare, meals, taxi) = $1200

2. Based on the budgeted income statement calculated above for 20XY, create a new budgeted income for 20XZ assuming that the production and sales is double the level of 20XY.