Ceder Company has compiled the following data for the upcoming year: Sales are expected to be 13,000 units at $47.00 each. Each unit requires 3 pounds of direct materials at $2.30 per pound. Each unit requires 1.8 hours of direct labor at $14.00 per hour. Manufacturing overhead is $3.30 per unit. Beginning direct materials inventory is $3,800.00. Ending direct materials inventory is $4,550.00. Selling and administrative costs totaled $136,320. Required: 1. Determine Ceder's budgeted cost of goods sold. 2. Complete Ceder's budgeted income statement.