Prepare a budgeted income statement for the year ended December 31, 2022. METLOCK COMPANY Budgeted Income...

Transcribed Image Text:

Prepare a budgeted income statement for the year ended December 31, 2022. METLOCK COMPANY Budgeted Income Statement For the Year Ended December 31, 2022 $ tA Metlock Company has budgeted the following for the year ended December 31, 2022: 1. Sales: 54,300 units; unit selling price $81. 2. Cost of one unit of finished goods: direct materials, 2 kg at $4 per kilogram; direct labour, 4 hours at $12 per hour; and manufacturing overhead, $2 per direct labour hour. 3. Selling and administrative expenses: $149,000. 4. Income taxes: 25% of income before income taxes. Prepare a budgeted income statement for the year ended December 31, 2022. METLOCK COMPANY Budgeted Income Statement For the Year Ended December 31, 2022 AP 4 Prepare a budgeted income statement for the year ended December 31, 2022. METLOCK COMPANY Budgeted Income Statement For the Year Ended December 31, 2022 $ tA Metlock Company has budgeted the following for the year ended December 31, 2022: 1. Sales: 54,300 units; unit selling price $81. 2. Cost of one unit of finished goods: direct materials, 2 kg at $4 per kilogram; direct labour, 4 hours at $12 per hour; and manufacturing overhead, $2 per direct labour hour. 3. Selling and administrative expenses: $149,000. 4. Income taxes: 25% of income before income taxes. Prepare a budgeted income statement for the year ended December 31, 2022. METLOCK COMPANY Budgeted Income Statement For the Year Ended December 31, 2022 AP 4

Answer rating: 100% (QA)

METLOCK COMPANY Budgeted Income Statement For the Year Ended December 31 2022 Sales 4398300 Less Co... View the full answer