Water Filters, Inc. has accumulated the following budget data for the year

Sales: $35,000$ units, unit selling price $$82\mathrm{.}00.$

Cost of one unit of finished goods: Direct materials $1\mathrm{.}75$ pounds at $$6$

per pound, direct labor $2\mathrm{.}5$ hours at $$16$ per hour, and manufacturing

overhead $$3$ per direct labor hour.

Inventories $($raw materials only$)$ Beginning, $7,700lbs.$ ending $10,500lbs.$

Raw materials cost: $$4\mathrm{.}50$ per pound.

Selling and administrative expenses: $$63,200.$

Income taxes: $40\%$ of income before income taxes.

Instructions

$($a$)$ Prepare a schedule showing the computation of cost of goods sold for $2021.$

$($b$)$ Prepare a budgeted income statement for $2021.$