Exercise 13-41 (Algo) Prepare Budgeted Financial Statements (LO 13-6) Carreras Caf is a Spanish restaurant in a college town. The owner expects that the number of meals served in June will be 40 percent below those served in May, because so many students leave for the summer. In May, the restaurant served 5,100 meals at an average price of $15. In the summer (June through August), the average price of a meal typically increases by 30 percent and the average food cost of a meal increases by 15 percent. Other costs are typically unchanged during the summer. The following cost information is available for May. Service costs (variable with respect to meals) Variable service costs (with respect to meals). Food costs Labor Other variable costs. Fixed service costs $10,400 16,000 6,400 8,800 Total service costs $41,600 Marketing (variable with respect to meals) 6,100 Administrative (fixed) 4,700 Total marketing and administrative costs, $10,800 Total costs $52,400 Marketing and administrative costs Required: Prepare a budgeted income statement for June. (Do not round intermediate calculations.) Carreras Caf Budgeted Income Statement