Chapter Sleep Tight, Inc., manufactures comforters. The estimated Inventories on January 1 for finished goods, work in process, and materials were $36,000, $30,000, and $24,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $45,000 $37,000 and $23,000, respectively. Direct maternal purchases were $565,000, direct labor was $229,000 for the year, and factory overhead was $147,000. Prepare a cost of goods sold budget for Sleep Sleep Tight, Inc. Cost of Goods Sold Budget For the Year Ending December 31 Finished goods inventory, January 1 Work in process inventory, January 1 Direct materials Derect materials, January 1 Dired materials purchases 565.000 Cost of direct materials avatable for sale Direct materials inventory, December 31 Cost of direct materials placed in productions Direct labor furty overcod to manufacturing costs Tutal war in process during the period Work in process inventory, December 31 mi non Cast of goods meturn Best of finished goods available for sale Fished goods irwentory, December 31 Cose of goods sold Next >