Walt Bach Company has accumulated the fol pany has accumulated the following budget data for the year 2019, 

1. Sales: 40,000 units, unit selling price $50.

2. Cost of one unit of finished goods: Direct materials 2 pounds at $5 per pound, labor 1.5 hours at $12 per hour, and manufacturing overhead $6 per direct labor hour. 

3. Inventories (raw materials only): Beginning, 10,000 pounds; ending, 15,000 pounds.

4. Raw materials cost: $5 per pound. 

5. Selling and administrative expenses: $200,000. 

6. Income taxes: 30% of income before income taxes.

Instructions 

(a) Prepare a schedule showing the computation of cost of goods sold for 2019. 

(b) Prepare a budgeted income statement for 2019,