Problem 7-3A (Algo) Manufacturing: Preparation and analysis of budgeted income statements LO P3 Merline Manufacturing makes its product for $60 per unit and sels it for $142 per unit. The sales staff receives a commission of 10 of of sales. its December income statemens follows Manogementexpects December's results to be repeased in January, Februany, and March without bny changes in strasegy Monagement, however, has an alternative plan. It believes thes if the unit seling price is feduced to $127 per unil and advevtising is Increased to $257,600 per merth, sales units will be 11,000 for Janubry. 12.100 for February, bnd 13.310 for March. The cost of is product wil remsin at $50 per unit, the sales staff wal continue to earn o tos ecmmissicn, and the remelaing expenses will stay the ssme. Required: 1. Prepare budgeted incorne stasements Lor each of the months of January. February, and March that show tesults from implementing the proposed plan 2. Fer the proposed plan. is income in Murch budgeted to be higher than income in December? Complete this question by entering your answers in the tabs below. Prepare budgeted income statements for each of the months of January, February, and March that show. results from implementing the proposed plan. (Enter your final answers in whole dollars.)