Please complete the following Budgeted Income Statement, and show the excel formulas supporting your answers. Thank you

Complete the following schedule to determine the cost of goods sold Cost to produce one product Cost Element Direct materials Direct labor Manufacturing overhead Total Source of data DM budget DL budget OH budget Quantity 2.50 1.50 1.50 Unit Cost $3.00 $11.40 Total unit cost Cost of goods sold otal unit cost x Number of units budgeted to be sold during 2017: - Budgeted Cost of Goods Sold Compute the value in cell F12 first. 9,500 Additional information Interest expense for 2017: Income tax expense for 2017: $1,300 $18,000 Use the information above as well as data from the other operating budgets to complete the Budgeted Income Statement. Buff Company Budgeted Income Statement For the Year Ending December 31, 2017 Sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Complete the following schedule to determine the cost of goods sold Cost to produce one product Cost Element Direct materials Direct labor Manufacturing overhead Total Source of data DM budget DL budget OH budget Quantity 2.50 1.50 1.50 Unit Cost $3.00 $11.40 Total unit cost Cost of goods sold otal unit cost x Number of units budgeted to be sold during 2017: - Budgeted Cost of Goods Sold Compute the value in cell F12 first. 9,500 Additional information Interest expense for 2017: Income tax expense for 2017: $1,300 $18,000 Use the information above as well as data from the other operating budgets to complete the Budgeted Income Statement. Buff Company Budgeted Income Statement For the Year Ending December 31, 2017 Sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income