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

• Sales are expected to be 15,000 units at $55.00 each.
• Each unit requires 4 pounds of direct materials at $2.70 per pound.
• Each unit requires 1.5 hours of direct labor at $18.00 per hour.
• Manufacturing overhead is $3.70 per unit.
• Beginning direct materials inventory is $4,200.00.
• Ending direct materials inventory is $5,150.00.
• Selling and administrative costs totaled $136,920.

Required:

1. Determine Ceder's budgeted cost of goods sold.

2. Complete Ceder's budgeted income statemen