Anthony Allen, Sunland & Allen Fabricators production manager, has just received the company's sales budget for th Budgeted unit sales Budgeted ending inventory Total units required Beginning inventory Budgeted production January 24,000 5,400 29.400 3,200 26,200 February 27,000 6,200 33,200 5,400 27.800 March 31,000 7,000 38,000 6,200 31,800 Quarter 82,000 7,000 89.000 3,200 85,800 Its manufacturing overhead budget for the first quarter is as follows: DLH worked VOH per DLH Budgeted VOH Budgeted FOH Total Budgeted MOH Noncash MOH items Depreciation Total Cash MOH cost January 5,240 $1.75 9.170 98.900 108,070 February 5,560 $1.75 9,730 98,900 108,630 March 6,360 $1.75 11.130 98,900 110,030 Quarter 17.160 $1.75 30,030 296.700 326,730 31,000 31,000 $77,070 31,000 $79,030 93,000 $233,730 $77.630 He also has received the direct materials purchases budget and direct labor budget which were as follows: January 26,200 X 6 February 27.800 X 6 April 33.200 x 6 199 200 Budgeted production Standard pounds per unit Production needs Budgeted ending inventory Total DM required (lbs.) Beginning inventory Budgeted purchases (lbs.) Standard cost per pound Budgeted purchases cost 157 200 16,680 173,880 13,000 160,880 $150 $241,320 166,800 19.080 185,880 16,680 169,200 $1.50 $253,800 March 31,800 X 6 190,800 19,920 210.720 19.080 191.640 $1.50 $287.460 Quarter 85,800 x 6 514,800 19.920 534.720 13.000 521.720 $1.50 $782.580 Beginning inventory Budgeted purchases (lbs.) Standard cost per pound Budgeted purchases cost 13,000 160,880 $1.50 $241.320 16,680 169.200 $1.50 $253,800 19,080 191.640 $1.50 $287,460 13,000 521,720 $1.50 $782,580 Budgeted production Standard DLH per unit Total DLH required Standard wage rate Budgeted DL cost January 26,200 x0.20 5.240 * $20 $104,800 February 27,800 x 0.20 5,560 * $20 $111,200 March 31,800 x 0.20 6,360 * $20 $127.200 Quarter 85,800 *0.20 17,160 * $20 $343,200 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 direct labor hour for fixed manufacturing overhead and $1.75 per direct labor hour for variable manufacturing overhead. Prepare Sunland & Hill's ending 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, 6-8.5.33 & all other answers to decimal places, c.g. 5,275.) Direct Materials Beginning DM Inventory DM Purchases DM used in Production Ending DM Inventory Finished Goods Inventory $ Direct Material Direct Labor $ Cost of Goods Sold Beginning WIP i Direct Materials used Direct Labor Overhead Total MfCost Ending WIP COGM Beginning FG inventory Ending FG inventory Budgeted COGS