Pargo Company is preparing its gttricome statement for 2020 Relevant data pertaining to its sales production and diestras but area Sales Sales for the year are expected total 1.000.000 units Qterly as a 22,23% 27% and 20% petits The sales price is expected to be $40 perunt for the first these ar arter of 2021 are expected to be 125 higher than the budgeted sales for the first quarter of 2000 Pradiction Management desires to maintain the ending fished goods verberies at 19% of the starter's buderted les volun Cet Eachun muss 2 pounds of raw materiab at a cost of $9 per pound Management desires in main bas itories at 20% of the rest quarter's production p 2021001000 Peanuts 03 hours of direct tabor per unit,Jabor at $11 per hour and manufacturing had at $18 per direct tabor housegative 200000 Catulate the budgeted total unit cost Round awer to 2 decimal places a 1225) Tulalit tale in th Sales PARGO COMPANY Budgeted Income Statement For the Year Ending December 31, 2020 Cost of Goods Sold Gross Profit Selling and Administrative Expenses Net Income/(Loss) GA 6,793,000 THE i Pargo Company is preparing its badgeted income statement for 2020. Relevant data pertaining to its sales, production and direct materials budgets are as follows Sales Sales for the year are expected to total 1,000,000 units. Quarterly sales are 22%, 23% 27%, and 28%, respectively. The sales price is expected to be $40 per unit for the first three quarters and $46 per unit beginning in the fourth quarter. Sales in the first quarter of 2021 are expected to be 13% higher than the budgeted sales for the first quarter of 2020 Production Management desires to maintain the ending finished goods inventories at 19% of the next quarter's budgeted sales volume Direct materials. Each unit requires 2 pounds of raw materials at a cost of $9 per pound Management desires to maintain raw materials inventories of 20% of the next quarter's production requirements. Assume the production requirements for first quarter of 2021 are 505,000 pounds Pargo budgets 0.3 hours of direct labor per unit, labor costs at $11 per hour, and manufacturing overhead at $1 per direct labor hour. Its budgeted selling and administrative experwes for 2020 are $4.773.000 Your answer is incorrect Calculate the budgeted total unit cost. (Round answer to 2 decimal places, ea 12.25) Total unit co $ Prepare the budgeted multiple-step income statement for 2020. (Ignore income taxes.) PARGO COMPANY Budgeted Income Statement For the Year Ending December 31, 2020 Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Net Income/(Loss) > < 6,793,000 Pargo Company is preparing its budgeted income statement for 2020. Relevant data pertaining to its sales, production, and direct materials budgets are as follows Sales Sales for the year are expected to total 1,000,000 units. Quarterly sales are 22% 23% 27%, and 28%, respectively. The sales price is expected to be $40 per unit for the first three quarters and $46 per unit beginning in the fourth quarter. Sales in the first quarter of 2021 are expected to be 13% higher than the budgeted sales for the first quarter of 2020 Production Management desires to maintain the ending finished goods inventories at 19% of the next quarter's budgeted sales volume Direct materials. Each unit requires 2 pounds of raw materials at a cost of $9 per pound. Management desires to maintain raw materials inventories at 20% of the next quarter's production requirements. Assume the production requirements for first quarter of 2021 are 505,000 pounds Pargo budgets 03 hours of direct labor per unit, labor costs at $11 per hour, and manufacturing overhead at $10 per direct labor hour. Its budgeted selling and administrative expenses for 2020 are $6.793.000 Your answer is incorrect Calculate the budgeted total unit cost. (Round answer to 2 decimal places, eg 12.25) Total unit cost