Cost of Goods Manufactured Bob's Bistro produces party-sized hoagie sandwiches, for next year, Bob's Bistro predicts that 50,000 units will be produced with the following total costs Direct materials > Direct labor $55,000 Variable overhead 17,000 Fixed overhead 200,000 Next year, Bob's Bistro expects to purchase 5123,000 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 $13.800 Ending $5,900 $15,800 Required: 1. Prepare a statement of cost of goods manufactured Bob's Bistro Statement of Cost of Goods Manufactured For the Coming Year Direct materials Beginning inventory 6.000 Add purchases 121.000 Bob's Bistro Statement of Cost of Goods Manufactured For the Coming Year Direct materials Beginning inventory 6,000 Add: Purchases 123,000 Materials available 129,000 Less: Ending inventory 5,900 142,800 x Direct materials used in production Direct labor 55,000 Manufacturing (Factory overhead 217,000 > Total manufacturing costs added Add: Beginning work in process 13,800 Less: Ending work in process 15,800 Cost of goods manufactured Feedback Check My Work 2. What if the ending inventory of direct matenals decreased by $1,9007 Indicate the affect that this would have on the items listed below: Direction of change Amount Direct materials used increase by s Total manufacturing costs increase by Cost of goods manufactured increase by