Please do not give solution in image format thanku Pharoah Company has budgeted the following for the year ended December 31, 2022:1.2.3.4.Sales: 46,200 units; unit selling price $79.Cost of one unit of finished goods: direct materials, 2 kg at $4 per kilogram; direct labour, 4 hours at $13 per hour; andmanufacturing overhead, $2 per direct labour hour.Selling and administrative expenses: $163,000.Income taxes: 25% of income before income taxes. Prepare a budgeted income statement for the year ended December 31, 2022.PHAROAH COMPANYBudgeted Income StatementFor the Year Ended December 31, 2022><$LALA$

A budgeted income statement is a financial statement that outlines expected revenues, expenses, and…

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Pharoah Company has budgeted the follow 1 Sales: 46 200 units: unit selling pric

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 10CE: Coral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects...

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Concept explainers

Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.

Question

Please do not give solution in image format thanku

Pharoah Company has budgeted the following for the year ended December 31, 2022:
1.
2.
3.
4.
Sales: 46,200 units; unit selling price $79.
Cost of one unit of finished goods: direct materials, 2 kg at $4 per kilogram; direct labour, 4 hours at $13 per hour; and
manufacturing overhead, $2 per direct labour hour.
Selling and administrative expenses: $163,000.
Income taxes: 25% of income before income taxes.

Prepare a budgeted income statement for the year ended December 31, 2022.
PHAROAH COMPANY
Budgeted Income Statement
For the Year Ended December 31, 2022
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