SC Johnson Company produces and sells bottles of concentrated organic detergent. The information on the budget for 2017 is as follows: 1- The company expects to sell 50,000 bottles of detergent in the first quarter, 70,000 in the second quarter, 95,000 for the third quarter, and 46,000 for the fourth. 2- A bottle of detergent requires 5 ounces of chemical A and 12 ounces of chemical B. 3- The desired ending inventory of finished goods is equal to 15% of sales for the next quarter, while the desired ending inventory for the material is 10% of the production needs of the next quarter 4 - There are 7,500 bottles of detergent, 25,000 ounces of chemical product A, and 60,000 ounces of chemical product Ben la mano at the beginning of the first quarter. 5 - At the end of the fourth quarter, the company must have 10,000 bottles of detergent, 24,000 ounces of chemical A, and 90,000 ounces of product B to meet needs in the first quarter of 2018. 6 - The cost of chemical A is . 12 per ounce, the chemical Bes costs .08 per ounce, and the selling price of the detergent is 11.50 per bottle. 7 - Direct labor cost is .80 per bottle and variable manufacturing overhead is 1.20 per bottle. Fixed manufacturing overhead is $50,000 per quarter. 8 - Variable selling and administrative expenses are 5% of sales and fixed selling and administrative expenses are 60,000 per quarter. Prepare the budgeted Statement of Income and Expenses, using the variable cost format for the third quarter of 2017. Ignore income taxes.