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  3. swifty company has accumulated the following budge

Swifty Company has accumulated the following budget data for the year 2022. 1. 2. 3....

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Accounting

Swifty Company has accumulated the following budget data for the year 2022. 1. 2. 3. 4. 5. Sales: 31,270 units, unit selling price $88. Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours at $13 per hour, and manufacturing overhead $6 per direct labor hour. Inventories (raw materials only): beginning, 10,110 pounds; ending, 15,430 pounds. Selling and administrative expenses: $170,000; interest expense: $30,000. Income taxes: 20% of income before income taxes.
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Prepare a budgeted multiple-step income statement for 2022. Swifty Company has accumulated the following budget data for the year 2022 1. Sales: 31,270 units, unit selling price $88. 2. Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours at $13 per hour, and manufacturing overhead $6 per direct labor hour. 3. Inventories (raw materials only): beginning, 10,110 pounds; ending, 15,430 pounds. 4. Selling and administrative expenses: $170,000; interest expense: $30,000 5. Income taxes: 20% of income before income taxes

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