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 4,700 meals at an average price of $20. In the summer (June through August), the average price of a meal typically increases by 25 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. t nces Service costs (variable with respect to meals) Variable service costs (with respect to meals) Food costs Labor Other variable costs Fixed service costs Total service costs Marketing and administrative costs Marketing (variable with respect to meals) Administrative (fixed) Total marketing and administrative costs Total costs $10,200 16,800 5,800 9,300 $ 42,100 6,300 4,200 $10,500 $52, 600 Total marketing and administrative costs $10,500 Total costs $52,600 Required: Prepare a budgeted income statement for June. (Do not round intermediate calculations.) Carreras Caf Budgeted Income Statement For the month of June Service costs 5 Total service costs Marketing and Administrative Total marketing and administrative costs