Need some help calculating the figures in the Income Statement. The rest of the budgets are correct and Total Net Profit on the Income statement in green is correct (was already provided)

Finished Goods Inventory (Theraflu $5,596; Codeine $3,854)

MASTER BUDGET Schedule 1 Sales Budget Theraflu Codeine Total Sales Revenue Budget July Aug Sept Total 42,000 52,000 44,000 $ 138,000 16,500 19,500 15,000 $ 51,000 $ 58,500 $ 71,500 $ 59,000 $ 189,000 Schedule 2 Production Budget (Units) July Aug Sept Total Oct Theraflu Budget Sales Target Ending Inventory Units Required Beginning Inventory Total Production Budget 2,100 1,040 3,140 635 2,505 2,600 880 3,480 1,040 2,440 2,200 1,080 3,280 880 6,900 1,080 9,900 635 7,345 2,700 1,160 3,860 1,080 2,780 2,400 Codeine Budget Sales Target Ending Inventory Units Required Beginning Inventory Total Production Budget 1,100 520 1,620 295 1,325 1,300 400 1,700 520 1,180 1,000 360 1,360 400 960 3,400 360 4,680 295 3,465 900 400 1,300 360 940 Schedule 3 Direct Materials Purchases Budget July Aug Sept Total Oct 6,050 Chemical-A (Litres) Budget Use in Production Target Ending Inventory Units Required Beginning Inventory Total Litres Purchased 6,408 3,913 10,321 4,540 5,781 6,020 3,588 9,608 3,913 5,695 5,520 3,933 9,453 3,588 5,865 17,948 3,933 29,381 4,540 17,340 Chemical-A Purchase Costs $ 1,734 $ 1,709 $ 1,759 $ 5,202 11,610 Chemical-B (Litres) Budget Use in Production Target Ending Inventory Units Required Beginning Inventory Total Litres Purchased 11,418 7,085 18,503 8,172 10,331 10,900 6,708 17,608 7,085 10,523 10,320 7,547 17,867 6,708 11,159 32,638 7,547 53,977 8,172 32,012 Chemical-B Purchase Costs $ 5,165 $ 5,262 S 5,579 $ 16,006 Total DM Purchases Budget 6,899 6,970 7,339 $ 21,208 Schedule 4 Direct Labour Budget July Aug Sept Total Mixing Department Direct Labour Hours Direct Labour Costs 1,017 968 912 $ 14,231 $ 13,552 $ 12,768 $ 2,897 40,551 Encapsulating Department Direct Labour Hours Direct Labour Costs 634 606 576 $ 12,670 $ 12,120 $ 11,520 $ 1,816 36,310 Total Direct Labour Budget $ 26,901 $ 25,672 $ 24,288 $ 76,861 Schedule 5 Factory Overhead Budget (Inc. Depreciation) Mixing Department Encapsulating Department $ $ July 5,083 S 5,068 $ Aug Sept 4,840 $4,560 $ 4,848 $ 4,608 $ Total 14,483 14,524 Total Factory Overhead Budget $ 10,151 $ 9,688 $ 9,168 $ 29,007 Schedule 6 Selling, Admin & Finance Budget (Inc. Depreciation) July 21,000 2,925 Aug 21,000 3,575 Sept 21,000 2,950 Total 63,000 9,450 Fixed Commission Discount Interest Total Budget 113 124 $ 23,925 $ 24,688 $ 24,074 $ 237 72,687 $ 72,687 Schedule 7 Cash Budget July 15,000 Aug 15,000 Sept 15,000 Total 15,000 Beginning Balance Collections: Current month's sales Previous month's sales Second previous month's sales Total Collections 14,625 29,925 16,650 61,200 17,875 26,325 19,950 64,150 14,750 32,175 17,550 64,475 47,250 88,425 54,150 189,825 Cash available for needs 76,200 79,150 79,475 234,825 Payments: Current month's purchases Month following purchase Direct Materials Direct Labour Factory Overhead (exc. Depreciation) Selling & Admin (exc. Depreciation) Interest Total Payments 4,830 8,520 13,350 26,901 9,326 22,925 4,879 2,070 6,949 25,672 8,901 23,575 113 65,210 5,137 2,091 7,228 24,288 8,424 22,950 124 63,014 14,846 12,681 27,526 76,861 26,651 69,450 237 200,725 72,501 12,361 Cash Excess Loan drawdown Amount available for Loan repayment Loan repayment Balance 3,699 13,940 16,461 11,301 1,060 1,461 1,461 $ 15,000 $15,000 $ 15,000 34,100 12,361 1,461 1461 15,000 Loan Balance 11,301 12,361 10,900 10,900 10,900 Schedule 8 Income Statement July Aug Sept Total 58,500 71,500 59,000 189,000 Sales Less: Cost of Goods Sold Beginning inventory Cost of Goods Manufactured Cost of Goods Available for Sale Less: Ending Inventory Cost of Goods Sold Gross Profit Less: Operating Expenses Selling & Admin Finance 23,925 24,575 23,950 Net Profit -$ 3,175 Materials: Chemical-A 1.5 litres @ $0.30/litre 2 litres @ $0.30/litre Chemical-B 3.5 litres @ $0.50/litre 2 litres @ $0.50/litre Labour: 18 minutes @$14/hour 12 minutes @$14/hour 12 minutes @$20/hour 6 minutes @$20/hour Mixing Department Encapsulating Department Factory Overhead: Mixing Department Encapsulating Department $5.00/direct labour hour $5.00/direct labour hour $8.00/direct labour hour $8.00/direct labour hour