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

Sales are expected to be 16,500 units at $53.00 each.

Each unit requires 2 pounds of direct materials at $2.50 per pound.

Each unit requires 2.2 hours of direct labor at $14.00 per hour.

Manufacturing overhead is $5.00 per unit.

Beginning direct materials inventory is $5,500.00.

Ending direct materials inventory is $7,100.00.

Selling and administrative costs totaled $138,870.

Required:

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

2. Complete Ceder's budgeted income statement.

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

Sales are expected to be 16,500 units at $53.00 each.

Each unit requires 2 pounds of direct materials at $2.50 per pound.

Each unit requires 2.2 hours of direct labor at $14.00 per hour.

Manufacturing overhead is $5.00 per unit.

Beginning direct materials inventory is $5,500.00.

Ending direct materials inventory is $7,100.00.

Selling and administrative costs totaled $138,870.

Required:

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

2. Complete Ceder's budgeted income statement.