Cloutier Foods produces a specialty brownie that is sold to hotel chains by the case for $55 per case. For the upcoming quarter, Cloutier Foods is projecting the following sales:

The budgeted cost of manufacturing each case is $27. Operating expenses are projected to be $61,000 in January, $57,000 in February, and $64,000 in March. Cloutier Foods is subject to a corporate tax rate of 30%.
Requirement
Prepare a budgeted income statement for the first quarter, with a column for each month and for the quarter in total.

Transcribed Image Text:

January February March 4,900 Cases of brownies 5,500