WARMFEET, INC_ COST OF GOODS SOLD BUDGET

Warm feet manufacturer comforters.

Assume the estimated inventories on January 1, 2012 for finished good, work in process, and materials were $51,000, $28,000 and $33,000 respectively.

Also assume the desired inventories on December 31, 2012, for finished goods, work in process, and materials were $48,000, $35,000, and $29,000 respectively.

Direct material purchases were $555,000. Direct Labor was $252,000 for the year. Factory overhead was $176,000.

PREPARE A COST OF GOODS SOLD BUDGET GOT WARMFEET, INC.