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Cycle-1 is a fast-growing start-up firm that manufactures bicycles. The following income statement is available for October: Sales revenue (300 units @ $600 per unit)

Cycle-1 is a fast-growing start-up firm that manufactures bicycles. The following income statement is available for October:

Sales revenue (300 units @ $600 per unit)$180,000

Less

Manufacturing costs

Variable costs26,000

Depreciation (fixed)27,540

Marketing and administrative costs

Fixed costs (cash)67,500

Depreciation (fixed)22,860

Total costs$143,900

Operating profits$36,100

Sales volume is expected to increase by 20 percent in November, but the sales price is expected to fall 10 percent. Variable manufacturing costs are expected to increase by 4 percent per unit in November. In addition to these cost changes, variable manufacturing costs also will change with sales volume. Marketing and administrative cash costs are expected to increase by 8 percent.

Cycle-1 operates on a cash basis and maintains no inventories. Depreciation is fixed and should remain unchanged over the next three years.

How would I make a budgeted income statement for November?

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