Preparing Budgeted Income Statement
Omar Company has compiled the following data for the upcoming year.
• Sales are expected to be 15,000 units at $35.75 each.
• Direct materials requires 2 pounds per unit at $1.50 per pound.
• Direct labor requires 1.5 hours per unit at $12.50 per hour.
• Manufacturing overhead is $3.00 per unit.
• Beginning raw material inventory is $3,500.00.
• Ending raw material inventory is $4,100.00.
• Raw material costs $1.50 per pound.
• Selling and administrative costs totaled $135,870.00.
Required:
1.Prepare Omar’s cost of goods sold budget.
2. Prepare Omar’s budgeted income statement.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.