Cost of Goods Sold Budget The controller of Pueblo Ceramics Inc. wishes to prepare a cost of goods sold budget for April. 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 April $41,530 $8,720 $161,970 $212,220 Estimated inventory, April 1 1,470 3,530 5,880 10,880 Desired inventory, April 30 3,120 2,840 7,490 13,450 Direct labor cost: Kiln Department Decorating Department Total Total direct labor cost budgeted for April $47,180 $136,820 $184,000 Budgeted factory overhead costs for April: Indirect factory wages $80,700 Depreciation of plant and equipment 10,520 Power and light 6,000 Indirect materials 3,210 Total $100,430 Work in process inventories: Estimated inventory, April 1 $3,360 Desired inventory, April 30 1,870 Finished goods inventories: Dish Bowl Figurine Total Estimated inventory, April 1 $5,500 $3,130 $2,590 $11,220 Desired inventory, April 30 3,520 4,350 4,130 12,000 Use the preceding information to prepare a cost of goods sold budget for April. PUEBLO CERAMICS INC. Cost of Goods Sold Budget For the Month Ending April 30 Finished goods inventory, April 1 Work in process inventory, April 1 Direct materials: Direct materials inventory, April 1 Direct materials purchases Cost of direct materials available for use Less: Direct materials inventory, April 30 Cost of direct materials placed in production Direct labor Factory overhead Total manufacturing costs Total work in process during the period Less: Work in process inventory, April 30 Cost of goods manufactured Cost of finished goods available for sale Less: Finished goods inventory, April 30 Cost of goods sold