Cost of Goods Manufactured Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,000 units will be produced, with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead $50,000 29,000 225,000 Next year, Pietro expects to purchase $115,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Dect materials Work-in-Process Inventory Inventory Beginning Ending $6,000 $14,500 $5,900 $16,500 Required: 1. Prepare a statement of cost of goods manufactured. Pietro Frozen Foods, Inc. Statement of Cost of Goods Manufactured Direct materials For the Coming Year 0000 Materials available Direct materials used in production Total manufacturion.corte.added. 1. Prepare a statement of cost of goods manufactured. Pietro Frozen Foods, Inc. Statement of Cost of Goods Manufactured Direct materials For the Coming Year Materials available Direct materials used in production Total manufacturing costs added Cost of goods manufactured 2. What if the ending inventory of direct materials increased by $2,000? Indicate the affect that this would have on the items listed below: Direct materials used Direction of change Amount by Total manufacturing costs Cost of goods manufactured i by by BB