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Sales: 50,000 units, unit selling price $95 Cost of one (1) unit: Direct materials: 3 pounds at $2 per pound Direct labor: 2 hours at
Sales: 50,000 units, unit selling price $95
Cost of one (1) unit:
Direct materials: 3 pounds at $2 per pound
Direct labor: 2 hours at $20 per hour
Manufacturing overhead: $10 per direct labor hour
Selling and administrative expenses: $135,000
Interest expense: $75,000
Income taxes: 40% of income before taxes
Budgeted Income Statement Sales Cost of Goods Sold Gross Profit Selling \& Administrative Expenses Income from Operations Interest Expense Income before taxes Income Tax Expense Net IncomeStep by Step Solution
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