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Prepare a schedule showing the calculation of the cost of goods sold for 2022. Prepare a budgeted income statement for 2022. Bramble Company has accumulated
Prepare a schedule showing the calculation of the cost of goods sold for 2022. Prepare a budgeted income statement for 2022. Bramble Company has accumulated the following budget data for the year 2022: 1. Sales: 28,800 units; unit selling price $79 2. Cost of one unit of finished goods: direct materials, 2kg at $5 per kilogram; direct labour, 3 hours at $13 per hour; and manufacturing overhead, $5 per direct labour hour 3. Inventories (raw materials only): beginning, 9,100 kg; ending, 15,300 kg 4. Raw materials cost: $5 per kilogram 5. Selling and administrative expenses: $181,000 6. Income taxes: 30% of income before income taxes
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