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Swifty Company has accumulated the following budget data for the year 2022. 1. Sales: 31,170 units, unit selling price $88. 2. Cost of one unit
Swifty Company has accumulated the following budget data for the year 2022. 1. Sales: 31,170 units, unit selling price $88. 2. Cost of one unit of finished goods: direct materials 1 pound at $6 per pound, direct labor 3 hours at $12 per hour, and manufacturing overhead $6 per direct labor hour. 3. Inventories (raw materials only): beginning, 10,130 pounds; ending 15,250 pounds. 4. Selling and administrative expenses: $170,000; interest expense: $30,000. 5. Income taxes: 20\% of income before income taxes. Prepare a schedule showing the computation of cost of goods sold for 2022. Prepare a budgeted multiple-step income statement for 2022. eTextbook and Media Last saved 1 second ago. Saved work will be auto-submitted on the due date. Auto
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