Please complete the budgeted income statement

The managernent of Zigby tanuufacturing prepared the follswing balance sheet foe March 31 . To prepare a master loudget for April, May, and June, manegement gathers the following Information. a. Sales for March totai 21,000 un ts. Budgeted salss in units follow: April, 21,000; Mary, 15,800 ; Juns, 21,600; and July 21,000 . The producl's seling price is $26.00 per unil and its totel preduct cust is $20.10 per urit. b. Rew meterials inventory consists solely of cliect materials that cost $20 per pound. Compeny pollcy cals for 5 olven month's ending materials inventory to equal 50% of the next manth's direct materials requirements. The March 31 raw raterizls invertery is 4,210 pounds. The bucgeted June 30 encing rew meterials inventory is 5,600 pounds. Each finished unit requires 0.50 pound of direct materials. c. Company policy calls for a given month's ending finished goods inventery to equal aos of the next month's budgeled unit sales. The March 31 finished goods invertory is 16,800 units. d. Each finished unit requires 0.50 haur of direct labor at a rate of $12 per hour. e. The predetermined varieble overhead rate is 54.30 per direct labor hour. Deprecietion of $37.950 per month is the onitiked factory buemend item. f. Sales commissions of 7 of sales are paid in the month of the sales. The sales manager's monttily salery is $4,600 g. Monthly general and administative expenses include 528,000 tor administratlue sciaries and 0.5% monthly interest on the iongterm note payable. h. The company budgets 30% of seles to be for cash and the remaining 70% on credit. Credit sales ere collected in full in the month following the sale jno credit saies are collected in the month of salej. i. All raw materiels purcheses are on credit, and eccounts peyable are solely led to raw materials purchieses. Raw materials purchases are fully pald in the next month (none are paid in the month of purchase) j. The minimum ending cash calarice for all months is $56,000. If necessary, the canparry barrows encugh cash using a loan ta rezch the minimum. Loans require an interest payment of 1S e: eech month-end (coefore any recayment. If the month-end preliminary cosh balance exconeds the minimum, the excess w/l be used to repary any lonrs. k. Dividenes of \$26,000 are budgeted to be declered and paid in May. 1. No cash poyments for income towes are budgeted in the second caiendar querter. Income tex will be rasessed at 35% in the quarter and budgeted to be paid in the third calendar cuarter. m. Equioment purcheses of 5100,000 are budgeted for the last dey of June. Required: Prepare the follswing budgets for the months of Apri, May, and June: 1. Sales budget. 5. Factory overhead budget. 6. Selling expense budget. 7. Generel and edministre:ive expense budget. 8. Sehedule of cnsin rereipts. 9. Schecule of cash paynents for direct materiels. 10. Cash budget 11. Qudgeted inedme statement far entire second quarter [not manthly]. 12. Bucigeted balence sheet at dune 30. Complete thls question by entering your answers in the tabs below. Budgeted ircome statement far entire secone quarter (not monthly;. \&Rcund your final answers ta the nearest whale dallar.)