Anthomy Allen, Sunland 6 . Allen Fabricators' production manager, has just received the company's sales budget for the hrst quarten Its manufacturing overhead budget for the first quarter is as follows: He also has received the direct materials purchases budget and direct labor budget which were as follow: He also has received the direct materials purchases budget and direct labor budget which were as follows: Joshua plans to have 3,200 finished bricks at a cost of $49,000 in inventory at the beginning of the year. The company applies manufacturing overhead based on direct labor hours, and the current predetermined rates are $12.25 per di rect labor hour for fixed manufacturing overhead and $1.75 per direct labor hour for variable manutacturing overhead. Prepare Surland & Hilits sending inventory and cost of goods sold budget for the first quarter. Assuming that the company has no beginning and ending WIP inventory. (Round unit cost to 2 decimal places es. 5.336 all other answers to 0 decimal ploces es. 5.275 . Direct Materials Finished Goods Inventory 5 $ $ Cost of Goods Sold $ Direct Materials Finished Goods Inventory Cost of Goods Sold $ Cost of Goods Sold eTextbook and Media Save for Later