E8-15 (Algo) Preparing Budgeted Income Statement [LO 8-3h] 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Ceder's budgeted cost of goods sold. (Do not round the intermediate values.) Budgeted Cost of Goods Sold