B. Compute the company's manufacturing overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. Round off to the nearest whole cent. 4. Delta, a one product mail-order firm, buys its product for P75 per unit and sells it for P140 per unit. The sales staff receives a 10% commission on the sale of each unit. Its March income statement follows: Delta Inc. Income Statement For the Month Ended March 31, 2019 Sales P1,400,000.00 Cost of Goods Sold 750,000.00 Gross Profit 650,000.00 Expenses Sales Commission (10%) 140,000 Advertising 215,000 Store Rent 26,000 Administrative Salaries 42,000 Depreciation 52,000 Other Expenses 13,000 Total Expenses 488,000.00 Net Income P 162,000.00 Management expects March's results to be repeated in April, May and June of 2019 without any changes in strategy. Management, however, has an alternative plan. It believes that unit sales will increase at a rate of 10% each month for the next three months (beginning with April) if the item's selling price is reduced to P130 per unit and advertising expenses are increased by 20% and remain at that level for all three months. The cost of its products will remain at P75 per unit, the sales staff will continue to earn a 10% commission, and the remaining expenses will stay the same. Prepare the budgeted income statements for each of the months of April, May and June that show the expected results from implementing the proposed changes. Use a three-column formant with one-column for each month. 5. The balance sheet for Echo at December 31, 2019 is as follows