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Haven Company has accumulated the following budget data for the year 2020: 1. 2. 3. 4. 5. 6. Sales: 31,000 units; unit selling price $83
Haven Company has accumulated the following budget data for the year 2020: 1. 2. 3. 4. 5. 6. Sales: 31,000 units; unit selling price $83 Cost of one unit of finished goods: direct materials, 2 kg at $5 per kilogram; direct labour, 3 hours at $13 per hour; and manufacturing overhead, $6 per direct labour hour Inventories (raw materials only): beginning, 9,100 kg; ending, 16,200 kg Raw materials cost: $5 per kilogram Selling and administrative expenses: $217,000 Income taxes: 30% of income before income taxes Prepare a schedule showing the calculation of the cost of goods sold for 2020. HAVEN COMPANY Computation of Cost of Goods Sold For the Year Ending December 31, 2020 Prepare a budgeted income statement for 2020. Direct Materials Direct Labour HAVEN COMPANY Budgeted Income Statement For the Year Ending December 31, 2020 Manufacturing Overhead Number Of Units Sold $ Cost Of Goods Sold $
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