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Budget Information Table Finished goods ending inventory 150,000 Finished goods beginning inventory 100,000 MOH costs in production 462,000 Direct labor costs in production 336,000 Direct

Budget Information Table
Finished goods ending inventory 150,000
Finished goods beginning inventory 100,000
MOH costs in production 462,000
Direct labor costs in production 336,000
Direct materials ending inventory 24,000
Direct materials beginning inventory 16,000
Direct materials purchases 260,000
Income taxes 74,000
Interest expense 3,000
Selling and administrative expense 812,000
Sales revenue 2,000,000
Cost of Goods Sold Calculation
Direct materials purchases
Direct materials beginning inventory
Less: direct materials ending inventory
Direct materials costs in production
Direct labor costs in production
MOH costs in production
Cost of goods manufactured
Finished goods beginning inventory
Less: finished goods ending inventory
Cost of goods sold
Budgeted Income Statement
Sales revenue
Cost of goods sold
Gross margin
Selling & administrative expenses
Operating income
Interest expense
Net income before taxes
Income taxes
Net income after taxes

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