Q1) Gig Harbor Boating is wholesale distributor of small recreational catamaran sailboat. Management has created the following summary data to utilize in its annual budgeting process:
|Butgeted unit sales
|Selling price per unit
|Cost per unit
|Variable selling and administrative expense (per unit)
|Fixed selling and administrative expense (per year)
|Interest expense for the year
Create company budgeted income statement. Utilize absorption costing income statement format illustrated in schedule?