Sales (units) Sales price per unit Uncollectible expense* Direct material per unit Direct labor per unit (hours) Direct labor rate per hour Manufacturing overhead Variable sales and administrative expenses per unit Fixed sales and administrative expenses Taxes** 14,000 $45 1% $3 0.40 $19 $15,000 $1 $21,000 15% *of sales **of income before taxes Prepare a budgeted income statement using the above information. Round final answers to nearest whole dollar. Sales Direct Materials Direct Labor Budgeted Income Statement For the Year Ending Dec. 31, 2020 Manufacturing Overhead Cost of Goods Sold Gross Profit Variable Sales and Administrative Expenses Fixed Sales and Administrative Expenses Uncollectible Expense Income Before Taxes Income Tax Expense Net Income 630,000 42,000 106,400 15,000 163,400 122,100 X 14,000 21,000 6,300 > > 106,400 X 106,400 X 299,110 X