Question $2[17$ points$]$

The following data were obtained from the financial records of SouthCo, for May $2019$:

Sales are expected to increase each month by $15\%.$ Complete the budgeted income statement. Please make sure you

final answer$($s$)$ are accurate to the nearest whole number.

SouthCo

Budgeted Income Statement

For the Month Ended May $31,2019$

Sales

Cost of goods sold

Beginning inventory

Purchases

Cost of goods available for sale

Ending inventory

Total cost of goods sold

Gross profit

Operating expenses

Administrative salaries

Marketing expense

Sales commissionc

Rent expense

Depreciation expense

Utilities

Total operating expensesQuestion $2[17$ points$]$

The following data were obtained from the financial records of SouthCo, for May $2019$:

Sales are expected to increase each month by $15\%.$ Complete the budgeted income statement. Please make sure you

final answer$($s$)$ are accurate to the nearest whole number.

SouthCo

Budgeted Income Statement

For the Month Ended May $31,2019$

Sales

Cost of goods sold

Beginning inventory

Purchases

Cost of goods available for sale

Ending inventory

Total cost of goods sold

Gross profit

Operating expenses

Administrative salaries

Marketing expense

Sales commissionc

Rent expense

Depreciation expense

Utilities

Total operating expensesQuestion $1[33$ points$]$

SouthCo's overhead expenses are:

Prepare a manufacturing overhead budget for SouthCo if the number of units to produce for February, March, and April

are $3,700,3,300,3,400,$ respectively. Please make sure your final answer$($s$)$ are accurate to the nearest whole number.