Estimated Fixed Cost Estimated Variable Cost (per unit sold) Production costs: Direct materials Direct labor Factory overhead $200,000 Selling expenses: Sales salaries and commissions 110,000 Advertising 40,000 Travel Miscellaneous selling expense Administrative expenses: 12,000 7,600 Office and officers' salaries 132,000 Supplies 10,000 Miscellaneous administrative expense 13,400 Total $525,000 5120 It is expected that 1.875 units will be sold at a price of $160 a unit. Maximum sales within the relevant range at Required: alculator Wolsey Industries Inc. Estimated Income Statement For the Year Ended December 31, 2013 Sales $1,800,000 Cost of goods sold: Direct materials Direct labor 000 Factory overhead Total cost of goods sold Gross profit Expenses: Selling expenses: Sales salaries and commissions Advertising