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Please draw tables directly in this system, do not upload pictures haven Company has accumulated the following budget data for the year 2020. 1. Sales:
Please draw tables directly in this system, do not upload pictures
haven Company has accumulated the following budget data for the year 2020. 1. Sales: 30,000 units; unit selling price $80 2. Cost of one unit of finished goods: direct materials, 2 kg at $5 per kilogram; direct labour, three hours at $12 per hour; and manufacturing overhead, $6 per direct labour hour 3. Inventories (raw materials only): beginning, 10,000 kg; ending, 15,000 kg 4. Raw materials cost: $5 per kilogram 5. Selling and administrative expenses: $200,000 6. Income taxes: 30% of income before income taxes Instructions REQUIRED: 3. Prepare a schedule showing the calculation of the cost of goods sold for 2020. b. Prepare a budgeted income statement for 2020Step by Step Solution
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