Fortune Incorporated is preparing its master budget for the first quarter. The company sells a single product at a price of $ per unit. Sales in units are budgeted at for the first quarter. Cost of goods sold is $ per unit. Other expense information for the first quarter follows.
tableSales Commissions,of sales dollarsRent$per quarterAdvertising$per quarterOffice salaries,$per quarterDepreciation$per quarterInterestquarterly on $ note payableTax rate,
Prepare a budgeted income statement for the first quarter ended March Round your intermediate and final answers to the nearest whole dollar.
