Cost of Goods Sold Budget

For the Year Ended December $31,2024$

$1$st Qtr $2$nd Qtr $3$rd Qtr $4$th Qtr Year

Manufacturing costs during the Year:

Direct materials:

Beginning raw materials inventory $$0\mathrm{.}00$ $$42,540\mathrm{.}75$ $$47,220\mathrm{.}23$ $$52,414\mathrm{.}46$ $$0\mathrm{.}00$

Add: Purchases of raw materials $$271,665\mathrm{.}75$ $$217,383\mathrm{.}23$ $$241,295\mathrm{.}39$ $$267,837\mathrm{.}88$ $$998,182\mathrm{.}25$

Raw materials available for use $$271,665\mathrm{.}75$ $$259,923\mathrm{.}98$ $$288,515\mathrm{.}62$ $$320,252\mathrm{.}34$ $$998,182\mathrm{.}25$

Less: Ending raw materials inventory $$42,540\mathrm{.}75$ $$47,220\mathrm{.}23$ $$52,414\mathrm{.}46$ $$58,180\mathrm{.}05$ $$58,180\mathrm{.}05$

Direct materials used in production $$229,125\mathrm{.}00$ $$212,703\mathrm{.}75$ $$236,101\mathrm{.}16$ $$262,072\mathrm{.}29$ $$940,002\mathrm{.}20$

Direct labor $$27,495\mathrm{.}00$ $$25,524\mathrm{.}45$ $$28,332\mathrm{.}14$ $$31,448\mathrm{.}67$ $$112,800\mathrm{.}26$

Manufacturing Overhead $($from M$.$O$.$ Budget$)$ $$48,668\mathrm{.}25$ $$46,829\mathrm{.}07$ $$49,449\mathrm{.}58$ $$52,358\mathrm{.}35$ $$197,305\mathrm{.}25$

Total manufacturing costs incurred

during the period $$305,288\mathrm{.}25$ $$285,057\mathrm{.}27$ $$313,882\mathrm{.}88$ $$345,879\mathrm{.}31$ $$1,250,107\mathrm{.}71$

Add: Beginning work in process inventory $00000$

Total manufacturing cost to account for $$305,288\mathrm{.}25$ $$285,057\mathrm{.}27$ $$313,882\mathrm{.}88$ $$345,879\mathrm{.}31$ $$1,250,107\mathrm{.}71$

Less: Ending work$-$in$-$process inventory $00000$

Cost of goods manufactured during period $$305,288\mathrm{.}25$ $$285,057\mathrm{.}27$ $$313,882\mathrm{.}88$ $$345,879\mathrm{.}31$ $$1,250,107\mathrm{.}71$

Add: Beginning finished goods inventory $0$ $$55,357\mathrm{.}03$ $$61,446\mathrm{.}31$ $$68,205\mathrm{.}40$ $$0\mathrm{.}00$

Finished goods inventory available for sale $$305,288\mathrm{.}25$ $$340,414\mathrm{.}30$ $$375,329\mathrm{.}19$ $$414,084\mathrm{.}71$ $$1,250,107\mathrm{.}71$

Less: Ending finished goods inventory $$55,357\mathrm{.}03$ $$61,446\mathrm{.}31$ $$68,205\mathrm{.}40$ $$75,708\mathrm{.}00$ $$75,708\mathrm{.}00$

Cost of goods sold during period $$249,931\mathrm{.}22$ $$278,968\mathrm{.}00$ $$307,123\mathrm{.}79$ $$338,376\mathrm{.}72$ $$1,174,399\mathrm{.}72($ Where from$/$how calculated is beginning raw materials for $3$rd quarter? $)$