E$8-15($Algo$)$ Preparing Budgeted Income Statement $[$LO $8-3$h$]$

Ceder Company has compiled the following data for the upcoming year:

Sales are expected to be $14,000$ units at $$56$ each.

Each unit requires $2$ pounds of direct materials at $$2\mathrm{.}50$ per pound.

Each unit requires $2\mathrm{.}0$ hours of direct labor at $$16$ per hour.

Manufacturing overhead is $$3\mathrm{.}50$ per unit.

Beginning direct materials inventory is $$4,000.$

Ending direct materials inventory is $$4,850.$

Selling and administrative costs totaled $$136,620.$

Required:

Determine Ceder's budgeted cost of goods sold.

Complete Ceder's budgeted income statement.

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Required $1$

Determine Ceder's budgeted cost of goods sold.

Note: Do not round the intermediate values.

Budgeted Cost of Goods Sold