American Group has compiled the following data for the upcoming year: - Sales are expected to be 15,000 units at $42.00 each. - Each unit requires 2 pounds of direct materials at $2.00 per pound. - Each unit requires 1.5 hours of direct labor at $15.00 per hour. - Manufacturing overhead is $3.00 per unit. - Selling and administrative costs totaled $135,870,00. Required: 1. Determine American Group's budgeted cost of goods sold. 2. Complete American Group's budgeted income statement. Complete this question by entering your answers in the tabs below. Complete American Group's budgeted income statement