Prepare the companys budgeted income statementgig harbor

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Reference no: EM13355957

Prepare the company's budgeted income statement.

Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process:

Butgeted unit sales

460

Selling price per unit

$1,950

Cost per unit

$1,575

Variable selling and administrative expense (per unit)

$75

Fixed selling and administrative expense (per year)

$105,000

Interest expense for the year

$14,000

Required:

Prepare the company budgeted income statement. Use the absorption costing income statement format shown in schedule?

Reference no: EM13355957

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