Cost of Goods Sold Budget desired December $31,20Y4,$ wax inventory is $5,200$ pounds. Candle wax costs $$3\mathrm{.}80$ per pound.

Each candle requires molding. Assume that $9$ minutes are required to mold each candle. Molding labor costs $$15\mathrm{.}00$ per hour.

Soft Glow Candle Inc.

Cost of Goods Sold Budget

For the Year Ending December $31,20$Y$4$

Finished qoods inventory, January $1,20$Y$4$

Work in process inventory, January $1,20$Y$4$

Direct materials:

Direct materials inventory, January $1,20Y4$

Direct materials purchases

Cost of direct materials available for use

Less direct materials inventory, December $31,20Y4$ direct materials placed in production

Direct labor

Total manufacturing costs

Total work in process during the period

Less work in process inventory, December $31,20$ Y $4$

Cost of qoods manufactured

Cost of finished goods available for sale

Less finished qoods inventory, December $31,20$ Y$4$

Cost of goods sold

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