Ceder Company has compiled the following data for the upcoming year: Sales are expected to be 15,500 units at $55.00 each. Each unit requires 2 pounds of direct materials at $2.80 per pound. Each unit requires 1.6 hours of direct labor at $20.00 per hour. Manufacturing overhead is $3.80 per unit. Beginning raw materials inventory is $4,300.00. Ending raw materials inventory is $5,300.00. Selling and administrative costs totaled $137,070.

Ceder Company has compiled the following data for the upcoming year Sales are expected to be 15,500 units at $55.00 each Each unit requires 2 pounds of direct materials at $2.80 per pound Each unit requires 1.6 hours of direct labor at $20.00 per hour Manufacturing overhead is $3.80 per unit. Beginning raw materials inventory is $4,300.00 Ending raw materials inventory is $5,300.00 Selling and administrative costs totaled $137,070 Required: 1. Determine Ceder's budgeted cost of goods sold. (Do not round the intermediate values.) Budgeted Cost of Goods Sold 2. Complete Ceder's budgeted income statement. (Do not round the intermediate values.) CEDER CORP Budgeted Income Statement Budgeted Gross Margin Budgeted Net Operating Income