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P1. Coyote Inc. is preparing its annual budgets for the year ending December 31, 2023 . Accounting assistants furnish the data shown below. The selling
P1. Coyote Inc. is preparing its annual budgets for the year ending December 31, 2023 . Accounting assistants furnish the data shown below. The selling and administrative expenses budget is $90,000. Interest expense is $25,000, and the income tax rate will be 30%. Instructions: Prepare sales budget, production budget, direct materials budget, direct labor budget, and budgeted income statement
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