Rhodes, Inc., is a fast-growing start-up firm that manufactures bicycles. The following income statement is available for July:

Sales revenues (220 units @ $510 per unit)	$	112,200
Less
Manufacturing costs
Variable costs		14,200
Depreciation (fixed)		16,300
Marketing and administrative costs
Fixed costs (cash)		37,900
Depreciation (fixed)		11,900
Total costs	$	80,300
Operating profits	$	31,900

Sales volume is expected to increase by 20 percent in August, but the sales price is expected to fall 5 percent. Variable manufacturing costs are expected to increase by 3 percent per unit in August. In addition to these cost changes, variable manufacturing costs also will change with sales volume. Marketing and administrative cash costs are expected to increase by 5 percent.

Rhodes operates on a cash basis and maintains no inventories. Depreciation is fixed and should remain unchanged over the next three years.

Required:

Prepare a budgeted income statement for August. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.)

RHODES, INC.
Budgeted Income Statement
For the month of August
Less
Manufacturing costs:
Total manufacturing costs
Less:
Marketing and Administrative
Total marketing and administrative costs