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Antenna Matic Manufacturing accumulated the following budget data for the 2022 year: Sales:...

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Accounting

Antenna Matic Manufacturing accumulated the following budget data for the 2022 year:
Sales: 56,500 units, unit selling price $149.00
Cost of one unit of finished goods: Direct materials 20 feet at $1.10 per foot, direct
labor 1.25 hours at $18.00 per hour, and manufacturing overhead $4.00 per direct
labor hour.
Inventories (raw materials only): Beginning, 11,000 feet; ending, 13,500 feet.
Raw materials cost: $1.10 per foot
Selling and administrative expenses: $105,000.
Income taxes: 25% of income before income taxes.
Required:
(a) Prepare a detailed schedule showing the computation of cost of goods sold for 2022.
(b) Prepare a budgeted income statement in proper form for 2022.
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