The following static budget is provided: Units 27,000 Units Sales $ 270,000 Less variable costs: Manufacturing costs $ 94,500 Selling and administrative costs $ 56,700 Contribution margin $ 118,800 Less fixed costs: Manufacturing costs $ 29,700 Selling and administrative costs $ 17,550 Net income $ 71,550 What will budgeted net income equal if 25,000 units are produced and sold? (Do not round intermediate calculations.)

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.