Problem 1 Mike Tackett, manager of the Troopers Caf, has asked for your assistance preparing the monthly budget for January 20X8. He provides you with the prior January actuals as follows: Sales Expenses: $100,400 Labor (F) Labor (V) Cost of sales (V) Supplies (V) Energy (V) Promotion (V) Maintenance (F) Maintenance (V) Property taxes (F) Depreciation (F) Rent (F) Insurance (F) 12,000 18,000 36,000 3,200 2,620 1,300 2,000 1,200 800 1,000 850 625 79,595 $ 20,805 Subtotal Net income ssume for 20X8 sales are expected to increase by 10 percent, fixed costs will increase by percent, and variable costs will remain at the same percentage of sales as experienced in 5 the prior January Required: Prepare the budget for January 20X8