Oriole Company has accumulated the following budget data for the year 2025. 1. Sales: 31,190 units,...

 

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Oriole Company has accumulated the following budget data for the year 2025. 1. Sales: 31,190 units, unit selling price $90. 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 $6 per direct labor hour. 3. Inventories (raw materials only): beginning. 10,180 pounds; ending. 15,410 pounds. 4. Selling and administrative expenses: $170,000; interest expense: $30,000. 5. Income taxes: 20% of income before income taxes. 2. Prepare a schedule showing the computation of cost of goods sold for 2025. Cost of one unit of finished goods: Direct materials Direct labor Manufacturing overhead Total Cost of Goods Sold $ $ $ Prepare a budgeted multiple-step income statement for 2025. ORIOLE COMPANY Budgeted Income Statement 47 LA LA Oriole Company has accumulated the following budget data for the year 2025. 1. Sales: 31,190 units, unit selling price $90. 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 $6 per direct labor hour. 3. Inventories (raw materials only): beginning. 10,180 pounds; ending. 15,410 pounds. 4. Selling and administrative expenses: $170,000; interest expense: $30,000. 5. Income taxes: 20% of income before income taxes. 2. Prepare a schedule showing the computation of cost of goods sold for 2025. Cost of one unit of finished goods: Direct materials Direct labor Manufacturing overhead Total Cost of Goods Sold $ $ $ Prepare a budgeted multiple-step income statement for 2025. ORIOLE COMPANY Budgeted Income Statement 47 LA LA

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Schedule of Computation of Cost of Goods Sold for 2025 Direct materials Beginning raw materials inve... View the full answer