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 12,000 units at $51.00 each. Each unit requires 2 pounds of direct materials at $3.10 per pound. Each unit requires 1.9 hours of direct labor at $14.00 per hour. Manufacturing overhead is $4.10 per unit. Beginning direct materials inventory is $4,600.00. Ending direct materials inventory is $5,750.00. Selling and administrative costs totaled $137,520. 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