CengageNOW 2 Online teaching and learning resource from Ceng- * Start Page eBook Cost of Goods Sold 2 Pietro Frozen Foods, Inc., produces frozen pizzas, For next year, Pietro predicts that 49,400 units will be produced, with the following total costs: Direct materials Direct labor 53,000 Variable overhead 29,000 Fixed overhead 215,000 Next year, Pietro expects to purchase $122,000 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 $12,300 Ending $5,900 $14,300 Pietro expects to produce 49,400 units and sell 48,700 units. Beginning inventory of finished goods is $41,500, and ending inventory of finished goods is expected to be $33,000. Required: 1. Prepare a statement of cost of goods sold in good form. Pietro Frozen Foods, Inc. Statement of Cost of Goods Sold Check My Work Previous Next > All work saved Save and Exit Submit Assignment for Grading eBook Pietro expects to produce 49,400 units and sell 48,700 units. Beginning inventory of finished goods is $41,500, and ending inventory o finished goods is expected to be $33,000. 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 Cost of goods manufactured Add: Beginning finished goods 41,500 Cost of goods available for sale Less: Ending finished goods 33,000 Cost of goods sold Feedback de Check My Won See Cornerstone 2.3 2. What if the beginning inventory of finished goods decreased by $4,5007 What would be the effect on the cost of goods sold