Ceder Company has compiled the following data for the upcoming year:

Sales are expected to be 12,000 units at $45.00 each.

Each unit requires 3 pounds of direct materials at $2.10 per pound.

Each unit requires 1.6 hours of direct labor at $12.00 per hour.

Manufacturing overhead is $3.10 per unit.

Beginning raw materials inventory is $3,600.00.

Ending raw materials inventory is $4,250.00.

Selling and administrative costs totaled $136,020.

Required: 1. Determine Ceder's budgeted cost of goods sold. (Do not round the intermediate values.) 2. Complete Ceder's budgeted income statement. (Do not round the intermediate values.)