Omar Company has compiled the following data for the upcoming year.

• Sales are expected to be 15,000 units at \($35.75\) each.

• Direct materials requires 2 pounds per unit at \($1.50\) per pound.

• Direct labor requires 1.5 hours per unit at \($12.50\) per hour.

• Manufacturing overhead is \($3.00\) per unit.

• Beginning raw material inventory is \($3,500.00.\)

• Ending raw material inventory is \($4,100.00.\)

• Raw material costs \($1.50\) per pound.

• Selling and administrative costs totaled \($135,870.00.\)

Required:

1. Prepare Omar’s cost of goods sold budget.

2. Prepare Omar’s budgeted income statement.