Cost of Goods Sold Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 55,100 units will be produced with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead ? $53,000 24,000 235,000 Next year, Bob's Bistro expects to purchase $118,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Work-in-Process Beginning Ending Inventory $4,000 $3,900 Inventory $10,900 $12,900 Bob's Bistro expects to produce 55,100 units and sell 54,400 units. Beginning inventory of finished goods is $47,500, and ending inventory of finished goods is expected to be $39,000. Required: 1. Prepare a statement of cost of goods sold in good form. Bob's Bistro Statement of Cost of Goods Sold For the Coming Year 2. What if the beginning inventory of finished goods increased by $5,000? What would be the effect on the cost of goods sold? by $