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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 revenues (520 units @ $780 per unit)

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

Sales revenues (520 units @ $780 per unit) $ 405,600
Less
Manufacturing costs
Variable costs 25,000
Depreciation (fixed) 27,300
Marketing and administrative costs
Fixed costs (cash) 67,400
Depreciation (fixed) 24,000
Total costs $ 143,700
Operating profits $ 261,900

Sales volume is expected to increase by 20 percent in November, but the sales price is expected to fall 5 percent. Variable manufacturing costs are expected to increase by 2 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 10 percent.

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

Required:

Prepare a budgeted income statement for November. (Do not round intermediate calculations.)

CYCLE-1
Budgeted Income Statement
For the month of November
Sales revenue ?
Less
Manufacturing costs:
Variable costs $30,600
Depreciation (fixed) 27,300
Total manufacturing costs
Gross profit margin
Less
Marketing and Administrative
Fixed costs (cash) $ ?
Depreciation (fixed) 24,000
Total marketing and administrative costs
Operating profit

Please help me with the question mark, that the only I am struggling. THANK YOU!

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