Need help completing the budgeting income statement! thank you in advance.

Answer 1 of 1 Done 1. Sales Budget Product Unit Sales Volume Unit Selling Price s 8 Basic Abacus S288,000/88 36,000 72,000- Deluxe Abacus 36,000 36,000 Totals 72,000 s 12 2. Production Budget Units Basic Units Deluxe 36,000 36,000 1,000 3.000 Expected units to be sold (from Sales Budget) Desired ending inventory, December 31, 20Y2 Total units available Estimated beginning inventory, January 1, 20Y2 Total units to be produced 37,000 39,000 -1,050 -2,100 35,950 36,900 3. Direct material budget Answer 1 of 1 Done 2092 Total units to be produced 35,950 36,900 3. Direct material budget Wood Pieces Beads 35.950 71,900 73.800 110,700 2,200 5.000 Packages required for production: Basic abacus 1 and 2 per unit Deluxe 2 and 3 per abacus unit Desired inventory, December 31, 20Y2 Total packages available Estimated inventory January 1, 2012 Total packages to be purchased Unit price (per package) Total direct materials to be purchased 111,950 187,600 -3,500 -4,500 108,450 $ 0.30 s 32,535 183,100 S 0.30 s 54.930 4. Direct Labor budget Answer 1 of 1 Done s Total direct materials to be purchased s 32.535 54,930 4. Direct Labor budget Gluing Assembly Hours required for production: Basic abacus 0.10 Hour Deluxe 0.10 Hour abacus and 0.2 Total 3,595 3,595 3,690 7,380 Hourly rate Total direct labor cost 7,285 $ 11 s 80,135 10,975 s 17 $ 186,575 5. Factory Overhead Budget Indirect factory $ wages 5,400 Power and lights (Plug in) 11,250 Depreciation of plant and 1,450 equipment Total factory S overhead cost 18,100 6. Cost of 26.0 Answer 1 of 1 Done 6. Cost of Goods Sold Budget Finished goods inventory, January 1, s 9,870 20Y2 S 2,010 87,465 Work in process inventory, January 1, 2012 Direct materials: Direct materials S inventory, 2,400 January 1, 20Y2 Direct materials purchases Cost of direct materials $ available for 89,865 use Direct materials s inventory, -2,160 December 31, 20Y2 Cost of direct materials placed 87,705 in production s Direct labor 266,710 Factory S overhead 18,100 Answer 1 of 1 Done s 372,515 materials $ inventory, December 31, -2,160 20Y2 Cost of direct materials placed in production 87,705 S Direct labor 266,710 Factory S overhead 18,100 Total manufacturing costs Total work in process during period Work in process inventory December 31, 20Y2 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory December 31, 20Y2 Cost of goods sold s 374,525 s -1,250 S 373.275 S 383,145 s -1,500 s 381,645 7. Selling and Admin Budget Selling Answer 1 of 1 Done Cost of goods sold S 381,645 7. Selling and Admin Budget s 65.400 Selling expenses: Sales salaries expense 45,000 Advertisings expense 15,000 Travel $ expense 5,400 Total selling expenses Administrative expenses: Officers' $ salaries expense 85,000 Office $ salaries expense 35,000 Office rent expense 26,000 Office S supplies 6,400 expense Miscellaneous administrative 1,600 expenses Total administrative expenses Total selling and administrative expenses s 154,000 s 219,400 Budgeted Income Statement The budgeted income statement is prepared by integrating the sales budgetcost of goods sold budget and selling and administrative expenses budget. Additional information that may be helpful in preparing the budgeted income statement are in the following Budgeted Income Statement Data Table Review the Budgeted Income Statement Data Table, then complete the budgeted income statement that follows the table. Round the computed amount for income tax to the nearest whole dollar. Enter all amounts as positive numbers. Budgeted Income Statement Data Table Interest revenue for the year $2.000 $1,500 Interest expense for the year LearnCo's income tax rate 40% Question not attempted Score: 0/52 Leamco Budgeted Income Statement For the Year Ending December 31, 20Y2 1 Revenue from sales Cost of goods sold 3 Gross profit Selling and administrative expenses: 5 Selling expenses 5 Administrative expenses 2 Total selling and administrative expenses Income from operations Other revenue and expense 10 Interest revenue 11 Interest expense 12 Income before income tax 13 Income tax 14 Net income