Soriano Company is preparing its budgeted income statement for 2010. Relevant data pertaining to its sales, production, and direct materials budgets can be found in the Do It! exercise on page 1014.

In addition, Soriano budgets 0.5 hours of direct labor per unit, labor costs at \(\$ 15\) per hour, and manufacturing overhead at \(\$ 25\) per direct labor hour. Its budgeted selling and administrative expenses for 2010 are \(\$ 12,000,000\).

(a) Calculate the budgeted total unit cost.

(b) Prepare the budgeted income statement for 2010.