Fortune Incorporated is preparing its master budget for the first quarter. The company sells a single product at a price of $$25$ per unit. Sales $($in units$)$ are budgeted at $150,000$ for the first quarter. Cost of goods sold is $$12$ per unit. Other expense information for the first quarter follows.

Prepare a budgeted income statement for the first quarter ended March $31.($Round your intermediate and final answers to the nearest whole dollar.$)$

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Prepare a direct labor budget for April, May, and June. $($Enter your direct labor hours $($hours$)$ per unit in two decimal places.$)$

$\backslash$table$[[$RAMOS COMPANY$],[$Direct Labor Budget$],[,$April,May,June,$],[$Units to produce,$500,630,600,$units$],[,,,,],[$Direct labor hours needed$],[,,,,],[$Cost of direct labor,,,,$]]$

Ramos Company provides the following $($partial$)$ production budget for the next three months. Each finished unit requires $0\mathrm{.}2$ hour of direct labor at the rate of $$22$ per hour. The company budgets variable overhead at the rate of $$26$ per direct labor hour and budgets fixed overhead of $$8,600$ per month.

Production Budget

Production Budget Units to produce

April

May $630$

June

Prepare a direct labor budget for April, May, and June.

Prepare a factory overhead budget for April, May, and June.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Prepare a factory overhead budget for April, May, and June.

$\backslash$table$[[$RAMOS COMPANY$],[$Factory Overhead Budget$],[,$April,May,June$],[$Direct labor hours needed$],[,,,],[,,,],[,,,],[$Budgeted total factory overhea,,,$]]$