Answer:
Income(Loss) $960,600;($397,400)
Explanation:
EXECUTIVE SOLUTIONS
Budgeted Income Statement
May June
Revenues:
Managers$1,231,900 $795,400
Staff $3,171,900 $2,250,400
Total revenue (i)$4,403,800 $3,045,800
Expenses:
Manager
compensation$749,300 $749,300
Staff compensation$1,558,400 $1,558,400
Total
compensation (ii)$2,307,700 $2,307,700
SG&A $553,500 $553,500
Depreciation $228,500 $228,500
Marketing $353,500 $353,50
Total
expenses (iii)$1,135,500 $1,135,500
Income(Loss)
(i)-(ii)-(iii) $960,600 ($397,400)
BMay June
Revenues:
Managers
[1,270 hours x $ 970] $1,231,900
[820 hours x $970] $795,400
Staff
[ 6,540hours x $485] $3,171,900
[4,640 hours x $485] $2,250,400
Expenses:
Manager compensation$749,300 $749,300
[2,540 hours x $295]
Staff compensation $1,558,400 $1,558,400
[9,740 hours x $160]
