Prepare the Selling and Administrative Budget assuming: 1. Advertising expenses are expected to be of $2,500 per quarter. 2. Freight-out is expected to be $1.10 per unit sold. 3. Sale Commission is expected to be $2.45 per unit sold. 4. Office salaries are expected to be $3,200 per quarter. 5. Depreciation is expected to be $1,750 per quarter. 6. Other variable costs are expected to be $.25 per unit sold. 7. Sales salaries are expected to be $18,000 per quarter. 8. Property taxes and insurance are expected to be $750 per quarter. 9. Miscellaneous expense is expected to be $.15 per direct labor hour plus $350 per quarter. Prepare the Budgeted Income Statement with the information above and the following information: 1. Manufacturing overhead required per unit is 2.5 2. Interest Expense is $12,000. 3. Income tax rate is 15.5% Prepare the Selling and Administrative Budget assuming: 1. Advertising expenses are expected to be of $2,500 per quarter. 2. Freight-out is expected to be $1.10 per unit sold. 3. Sale Commission is expected to be $2.45 per unit sold. 4. Office salaries are expected to be $3,200 per quarter. 5. Depreciation is expected to be $1,750 per quarter. 6. Other variable costs are expected to be $.25 per unit sold. 7. Sales salaries are expected to be $18,000 per quarter. 8. Property taxes and insurance are expected to be $750 per quarter. 9. Miscellaneous expense is expected to be $.15 per direct labor hour plus $350 per quarter. Prepare the Budgeted Income Statement with the information above and the following information: 1. Manufacturing overhead required per unit is 2.5 2. Interest Expense is $12,000. 3. Income tax rate is 15.5%