Concord Company has accumulated the following budget data for the year 2022. 1. 2. 3. 4....

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Concord Company has accumulated the following budget data for the year 2022. 1. 2. 3. 4. 5. Sales: 31,230 units, unit selling price $88. Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours at $12 per hour, and manufacturing overhead $8 per direct labor hour. Inventories (raw materials only): beginning, 10,400 pounds; ending, 15,210 pounds. Selling and administrative expenses: $170,000; interest expense: $30,000. Income taxes: 20% of income before income taxes. Prepare a budgeted multiple-step income statement for 2022. CONCORD COMPANY Budgeted Income Statement For the Quarter Ending December 31, 2022 December 31, 2022 For the Year Ending December 31, 2022 Concord Company has accumulated the following budget data for the year 2022. 1. 2. 3. 4. 5. Sales: 31,230 units, unit selling price $88. Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours at $12 per hour, and manufacturing overhead $8 per direct labor hour. Inventories (raw materials only): beginning, 10,400 pounds; ending, 15,210 pounds. Selling and administrative expenses: $170,000; interest expense: $30,000. Income taxes: 20% of income before income taxes. Prepare a budgeted multiple-step income statement for 2022. CONCORD COMPANY Budgeted Income Statement For the Quarter Ending December 31, 2022 December 31, 2022 For the Year Ending December 31, 2022

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