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Fortune, Inc., s preparing its master budget for the first quarter. The company ses a...

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Accounting

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Fortune, Inc., s preparing its master budget for the first quarter. The company ses a single product at a price of $25 per unit Sales in units are forecasted at 45.000 for January, 55.000 for February, and 50,000 for March Cost of goods sold is $14 per unit. Other expense Information for the first quarter follows. Comissions Rent Advertising Office salar Depreciation 80 of sales dollars $14,000 per month 158 of sales dollars $ 75,000 per month $40.000 per month annually on a $250,000 note payable Interest Tax rate Prepare a budgeted Income statement for this first quarter. (Round your final answers to the nearest whole dollar.) FORTUNE, INC Budgeted Income Statement For Quarter Ended March 31 Operating expenses

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