Cost of Goods Sold Budget The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget for September. The controller assembled the following information for constructing the cost of goods sold budget: Direct materials: Enamel Paint Porcelain Total Total direct materials purchases budgeted for September Estimated inventory, September 1 $40,310 $8,470 $157,210 $205,990 1,710 4,100 6,840 12,650 Desired inventory, September 30 3,010 2,740 7,220 12,970 Direct labor cost: Kiln Department Decorating Department Total Total direct labor cost budgeted for September $50,270 $145,780 $196,050 Finished goods inventories: Dish Bowl Figurine Total Estimated inventory, September 1 Desired inventory, September 30 Work in process inventories: Estimated inventory, September 1 $5,270 $3,000 3,370 4,160 $2,480 3,950 $10,750 11,480 $3,210 Desired inventory, September 30 1,790 Budgeted factory overhead costs for September: Indirect factory wages $81,000 Depreciation of plant and equipment 14,020 Power and light 4,890 Indirect materials Total 3,500 103,410 Use the preceding information to prepare a cost of goods sold budget for September. For those boxes in which you must enter subtracted or negative numbers use a minus sign. MingWare Ceramics Inc. Cost of Goods Sold Budget Use the preceding information to prepare a cost of goods sold budget for September. For those boxes in which you must enter subtracted or negative numbers use a minus sign. MingWare Ceramics Inc. Cost of Goods Sold Budget For the Month Ending September 30 Direct materials: Direct labor Work in process inventory, September 30