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Chapter 7 Budgeted Income Statement The following data were obtained from the financial records of Sonic Hedgehog Inc. January sales (units) Sales price per unit Direct materials (per unit) Direct labor (per unit) Manufacturing overhead (per month) Administrative salaries (per month) Marketing expense Sales commissions Rent expense on office building (per month) Depreciation on office building (per month) Utilities (per month) Taxes 10,000 9.5 2.85 0.5 15,000 23,400 3%* 4%* 2,800 400 600 15%** * of sales revenue **of income before taxes Note: Unit sales are expected to increase cach month by 15%. Round your answers to whole dollars. Instructions: Prepare a budgeted income statement for the quarter ended March 31, 2022