Using all of the information what would the income statement look like.

Direct labor: $32.50

Allocation of overhead costs: $36.76

Total production cost: $0.51

Selling price: $12.00 for 12 muffins or $1.00 for one muffin

Breakeven point: 106 muffins

Target profit: $662

Budget income Statement: Total revenue = $827.50, Total cost $716.86, Net Gain $110.64

Actual costs: $28.49 (cost of ingredients) + $32.50 (direct labor)