Problem
Walt bach company has accumulated the following budget data for the year 2012.
1. Sales: 30,000 units, unit selleng price $50
2. Cost of one unit of finished goods: Direct Materiales 2 pounds at $5 per pound, direct labor 1.5 hour at $12 per hour, and msnufacturing overhead $6 per direct labor.
3. Inventories (raw materiales only): Beginning 10,00 pounds; endong 15,00 pounds.
4. Raw materials cost:$5 per ponud
5. Selling and administrative expenses:$160,000
6. Income taxes: 30 % of income taxes.
Instructions
1. Prepare a schedule showing the computation of cost of good sold for 2012
2. Prepare a budgeted income statement for 2012.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.