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

• Sales are expected to be 14,000 units at $56.00 each.
• Each unit requires 2 pounds of direct materials at $2.50 per pound.
• Each unit requires 2.0 hours of direct labor at $16.00 per hour.
• Manufacturing overhead is $3.50 per unit.
• Beginning raw materials inventory is $4,000.00.
• Ending raw materials inventory is $4,850.00.
• Selling and administrative costs totaled $136,620.

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.)