Question

Crane Company has completed all of its operating budgets. The sales budget for the year shows 53,000 units and total sales of $2,385,000. The total cost of producing one unit is $20. Selling and administrative expenses are expected to be $318,000. Interest is estimated to be $10,600. Income taxes are estimated to be $212,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2022

Answer 1

Cash budget is prepared after all the operating budgets are produced. Production budget is done after sales budget. Cost of goods sold budget is prepared after cost of goods manufactured budget.

Step-by-step explanation:

Cash budget is prepared after all the operating budgets are produced. Production budget is done after sales budget. Cost of goods sold budget is prepared after cost of goods manufactured budget.