Barrett Labs performs a specialty lab test for local companies for $52 per test. For the upcoming quarter, Barrett Labs is projecting the following sales:

The budgeted cost of performing each test is $25. Operating expenses are projected to be $61,000 in January, $54,000 in February, and $64,000 in March. Barrett Labs 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:

March January 5,400 February 4,500 5,500 Number of tests .......