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No grade (practice only): Ceder Company has compiled the following data for the upcoming year: Sales are expected to be 12,000 units at $45.00 each.

No grade (practice only): Ceder Company has compiled the following data for the upcoming year:

  • Sales are expected to be 12,000 units at $45.00 each.
  • Each unit requires 3 pounds of direct materials at $2.10 per pound.
  • Each unit requires 1.6 hours of direct labor at $12.00 per hour.
  • Manufacturing overhead is $3.10 per unit.
  • Beginning raw materials inventory is $3,600.00.
  • Ending raw materials inventory is $4,250.00.
  • Selling and administrative costs totaled $136,020.

Required:

1.Determine Ceder's budgeted cost of goods sold.(Do not round the intermediate values.)

Budgeted Cost of goods sold =

2.Complete Ceder's budgeted income statement.(Do not round the intermediate values.)

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