Cornerstone Exercise 2.3 (Algorithmic) Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 51,700 units will be produced, with the following total costs: Direct materials Direct labor 52,000 Variable overhead 28,000 Fixed overhead 220,000 Next year, Pietro expects to purchase $126,000 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 $5,000 $13,500 Ending $4,900 $15,500 Pietro expects to produce 51,700 units and sell 51,000 units. Beginning inventory of finished goods is $45,500, and ending inventory of finished goods is expected to be $37,000. Required