From the following information relating to Bailey's Manufacturing Pty Ltd:

1. Prepare the budgeted Income Statement (Budget 2)for the three months Quarter ending December 2020. Actuals for this budget have not been determined at this time.
2. Nominate at least 1 Key Performance Indicator (KPI) in this budget

Baileys Manufacturing Pty Ltd Sales Budget
	Unit Sales	Unit Price	Sales revenue
October	1,000 pcs.	$150	$150,000
November	1,200 pcs.	$150	$180,000
December	1,300 pcs.	$180	$234,000

Baileys Manufacturing Pty Ltd Production Budget
	Unit Sales	Closing Stock	Total required	Opening Stock	Estimated Production
October	1,000 pcs.	50 pcs.	1,050 pcs.	150 pcs.	900 pcs.
November	1,200 pcs.	70 pcs.	1,270 pcs.	50 pcs.	1,220 pcs.
December	1,300 pcs.	90 pcs.	1,390 pcs.	70 pcs.	1,320 pcs.

The cost of production budget shows the manufacturing cost per unit as follows:

October $88 opening stock

November $90

December $95

Baileys Manufacturing Pty Ltd Operating expenses budget
Expense	October	November	December	Total
Selling	$9,000	$9,500	$9,000	$27,500
Administration	$1,000	$2,000	$1,500	$4,500
Financial	$2,000	$2,000	$3,000	$7,000

Opening stock for the month of October only is valued at $88 per unit.

The tax rate is 30 per cent

Bailey's Manufacturing Pty Ltd use Average cost for stock valuation