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2-30 Budgeted statement of comprehensive income (continuation of 2-29). (LO 2, 4) Assume management predicts that the selling price per unit and variable cost per
2-30 Budgeted statement of comprehensive income (continuation of 2-29). (LO 2, 4) Assume management predicts that the selling price per unit and variable cost per unit will be the same in 2023 as in 2022. Fixed manufacturing costs and marketing, distribution, and customer-service costs in 2023 are also predicted to be the same as in 2022. Sales in 2023 are forecast to be 122,000 units. The desired ending inventory of finished goods, December 31, 2023, is 12,000 units. Assume zero ending inventories of both direct materials and work-in-process. The company's ending inventory of finished goods is carried at the average unit manufacturing costs for 2023. The company uses the first-in, first-out inventory method. Management has asked that you prepare a budgeted statement of comprehensive income for 2023. On December 31, 2022, finished goods inventory is 9,000 units. Required 1. Calculate the units of finished goods produced in 2023. 2. Prepare a budgeted statement of comprehensive income for 2023.
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