Consider the following budget assumptions of MountainX, a manufacturer of skis, for the next month:

• Sales volume of 500 skis. Average Price $400. 50% of revenues collected in the month of sales and 50% in the following month.
• Purchasing costs of fiberglass and other materials required for the production $25,000.
• 30 direct labor workers manufacture the skis, each working 140 hours at an hourly rate of $10 per hour.
• Variable manufacturing overhead are $3 per snowboard. Monthly fixed manufacturing overhead are $10,000, including $1,000 of manufacturing depreciation.
• Sales commissions are 4% of revenues paid in cash.
• Monthly General and Administrative expenses are $9,500.
• No inventory.
• Beginning Balance of Retained Earnings is equal to $5,000.
• Beginning Balance of Accounts Receivables is $2,500

Prepare the following:

1. Production overhead cost budget
2. SG&A budget
3. Budgeted Income statement.