Exeoutive Solutions is a strategy consulting firm. Other than the senior leadership (who manage the im, but do not actively consut), the managers and stant are billed to dlients on an hourly basis. The workload varies quite a bit from month to month requiring careful planning Managers are billed to clents st a rate of $1,070 per hour and staff at a rate of $535 per hour. Managers are paid $305 per hour worked (indluding nonbililable tima) and steff are paid $210 per hour. The aurment plar calls for managers to bill 1,370 hours in May and 920 hours in June Staff are expected to bill 6,740 hours in May and 4,840 hours in June. Maragers will work a total of 2,740 hours in both monthe and staftf weill work a total of 9,940 hours in both months Other monthily costs (all fxed) ane $558,500 SO8A $233500 ih depreciation, and $358,500 in marketing. Required Prepare a budgeted income satement for Executive Solutions for May and June (separately) Budgeted Income Statement Managers Saf Tolsl reven Total SGAA Markeling Tolal espenses ncome Loss) References Book& Resources