Preparing a Budgeted Income Statement

Oliver Company provided the following information for the coming year:

Units produced and sold

Cost of goods sold per unit

Selling price

Variable selling and administrative expenses per unit

Fixed selling and administrative expenses

Tax rate

Required:

$160,000$

$$6\mathrm{.}30$

$$14$

$$1\mathrm{.}10$

$$423,000$

$18\%$

Prepare a budgeted income statement for Oliver Company for the coming year. Round all income statement amounts to the nearest dollar.

Oliver Company

Budgeted Income Statement

For the Coming Year