Cast of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 54,200 units will be produced, with the following total costs: 7 Direct materials Direct labor Variable overhead Fixed overhead 73,000 23,000 185,000 Next year, Pietro expects to purchase $127,000 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Work-in-Process Inventory Inventory Beginning $6,000 $10,100 Ending $5,900 $12,100 Pietro expects to produce 54,200 units and sell 53,500 units. Beginning inventory of finished goods is $39,500, and ending Inventory of finished goods is expected to be $31,000. Required: 1. Prepare a statement of cost of goods sold in good form. Pietro Frozen Foods, Inc. Statement of Cost of Goods Sold For the Coming Year Direct materials Work-In-Process Inventory Inventory Beginning $6,000 $10,100 Ending $5,900 $12,100 Pietro expects to produce 54,200 units and sell 53,500 units. Beginning inventory of finished goods is $39,500, and ending Inventory of finished goods is expected to be $31,000 Required: sold in good form. 1. Prepare a statement of cost of goo Pletro Frozen Foods, Inc. Statement of Cost of Goods Sold For the Coming Year 2. What if the beginning inventory of finished goods decreased by $5,500? What would be the effect on the cost of goods sold? by $