can i get help on the budgeted income statement please

Selling/Admin Expenses Budget The sales budget is often used as the starting point for the selling and administrative expenses budget. For example, a budgeted Increase in sales may require more advertising expenses. LearnCo has prepared its selling and administrative expenses budget a follows. This budget is merely reviewed by you for use in the budgeted income statement LearnCo Selling and Administrative Expenses Budget For the Year Ending December 31, 2012 Selling expenses Salos salarios expenso $45,000 Advertising expense 15,000 Travel expenso 5.400 Total selling expenses $65,400 Administrative expenses Officers' salaries expense $85,000 A selingi Admin Expenses Budget Selling expenses Sales salaries expense $45,000 Advertising expense 15,000 Travel expense 5,400 Total selling expenses $65,400 Administrative expenses Officers' salaries expense $85,000 Office salaries expense 35,000 Office rent expense 26,000 6,400 1,600 Office supplies expense Miscellaneous administrative expenses Total administrative expenses Total selling and administrative expenses 154,000 $219,400 Budgeted Income Statement Shaded cells have feedback. The budgeted income statement is prepared by integrating the sales budget, cost of goods sold budget, and selling and administrative expenses budget. Additional information that may be helpful in preparing the budgeted income statement are in the following Budgeted Income Statement Data Table. Review the Budgeted Income Statement Data Table, then complete the budgeted income statement that follows the table. Round the computed amount for income tax to the nearest whole dollar. Enter all amounts as positive numbers. Budgeted Income Statement Data Table Interest revenue for the year Interest expense for the year LearnCo's income tax rate $2,000 $1,500 40% LearnCo Score: 30/52 Budgeted Income Statement For the Year Ending December 31, 2012 1 Revenue from sales $720,000.00 Candela r7 Budgeted Income Statement For the Year Ending December 31, 2012 Shaded cells have feedback. 1 Revenue from sales $720,000,00 392,573.00 $327,427.00 $65,400.00 2 Cost of goods sold 3 Gross profit Selling and administrative expenses: s Selling expenses 6 Administrative expenses Total selling and administrative expenses 3 Income from operations Other revenue and expense: 10 Interest revenue 11 Interest expense 154,000.00 7 219,400,00 $108,02700 $2,000.00 (1,000.00 500.00 12 Income before income tax $108,527.00 13 Income tax 43,411.00 14 Net Income $65,166.00 Check My Work Sales Budget Shaded cells have feedback. After reviewing LearnCo's sales budget, you note that three numbers have been omitted. The company's controller has told you that the units sold for the Basic and Deluxe models are expected to be the same. Fill in the missing amounts. LearnCo Sales Budget For the Year Ending December 31, 20Y2 Product Unit Sales Volume Unit Selling Price Total Sales Basic Abacus 36,000 $6.00 $216,000 Deluxe Abacus 36,000 14.00 504,000 Totals 72,000 $720,000 Production Budget Shaded cells have feedback. The production budget should be integrated with the sales budget to ensure that production and saes are kept in balance during the year. The production budget estimates the number of units to be manufactured to meet budgeted sales and desired inventory levels. You note that LoarnCo has omitted six numbers from the following production budget and in the missing amounts. You may need to use numbers from the sales budget you prepared > LearnCo Production Budget For the Year Ending December 31, 2012 Units Basic Units Deluxe 36,000 36,000 1,000 3,000 Expected units to be sold (from Sales Budget) Desired ending Inventory, December 31, 20Y2 Total units available Estimated beginning inventory, January 1, 20Y2 Total units to be produced 37,000 39,000 (1.050) (2.100) 35,950 36,900 Direct Materials Purchases Budget Shaded cells have feedback. The direct materials purchases budget should be integrated with the production budget to ensure that production is not interrupted during the year. This budget estimates the quantities of direct materials to be purchased to support budgeted production, along with desired Inventory levels of direct materials. Before you make any changes to the budget, you review the information in the following Direct Materials Data Table and enter the units to be produced from the Production Budget panel. After scanning the direct materials purchases budget (which follows the Direct Materials Data Table), you observe that LearnCo has omitted quite a few numbers from the budget. Fill in the missing amounts. You may need to use numbers from the Direct Materials Data Table, or from the sales budget and production budget you prepared. When required, round your answers to the nearest dollar Direct Materials Data Table Wood Places Beads Packages required per unit Basic abacus Deluxe abacus Cost per package 1 2 2 3 Wood Dieces + 1 50.25 Check My Work Shaded cells have feedback. $0.25 Direct Materials Purchases Budget Cost per package: Wood pieces Beads Units to be produced (from Production Budget); Basic abacus Deluxe abacus $0.25 35,950 36,900 Points: 2/2 LearnCo Direct Materials Purchases Budget For the Year Ending December 31, 20Y2 Direct Materials Wood Pieces Beads Packages required for production: Total Basic abacus 35,950 71,900 Deluxe abacus 73,800 110.700 Check My Work UNBUL Materials Purchases Budget Shaded cells have feedback. XX Learnco Direct Materials Purchases Budget For the Year Ending December 31, 20Y2 Direct Materials Wood Pieces Beads Total > Packages required for production: Basic abacus 35,950 71,900 Deluxe abacus 73,800 110,700 Desired Inventory, December 31, 20Y2 2,200 5,000 111,950 187,600 Total packages available Estimated Inventory, January 1, 20Y2 Total packages to be purchased Unit price (per package (3,500) (4,500) 108,450 183,100 $0.25 X $0.25 Total direct materials to be purchased $27,113 $45,775 $72,888 Shaded cells have feedback. LearnCo has not separated costs in this manner. After reviewing the following factory overhead cost budget, you note that LearnCo has completed the budget with the exception of one amount. Fill in the missing amount. LearnCo Factory Overhead Cost Budget For the Year Ending December 31, 20Y2 $5,400 Indirect factory wages Power and light Depreciation of plant and equipment 11,250 1,450 Total factory overhead cost $18,100 Points: 1/ Cost of Goods Sold Budget Shaded cells have feedback. X LearnCo Cost of Goods Sold Budget For the Year Ending December 31, 20Y2 $9,870 $2,010 $2,000 72,888 Finished goods inventory, January 1, 20Y2 Work in process inventory, January 1, 20Y2 Direct materials: Direct materials inventory, January 1, 20Y2 Direct materials purchases Cost of direct materials available for use Direct materials inventory, December 31, 20Y2 Cost of direct materials placed in production Direct labor Factory overhead Total manufacturing costs Total work in process during period 74,888 (1,800) 73,088 288,660 18,100 SERES 379,848 381,858 Check My Work Cost of Goods Sold Budget Direct materials inventory, December 31, 2042 Shaded cells have feedback. (1.800) Cost of direct materials placed in production 73,088 Direct labor 288,660 Factory overhead 18.100 V 379,848 381,858 Total manufacturing costs Total work in process during period Work in process inventory, December 31, 2012 Cost of goods manufactured Cost of finished goods available for sale Finished goods invertory, December 31, 2012 (1,250) 380,608 390,4787 Cost of goods sold (1.500) 388.978