Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,800 units will be produced, with the following total costs: Direct materials 2 Direct labor 72,000 Variable overhead 22,000 Fixed overhead 215,000 Next year, Pietro expects to purchase $127,000 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Work-in-Process Inventory I Inventory Beginning $4,000 $14,100 Ending $3,900 $16,100 Pietro expects to produce 50,800 units and sell 50,100 units. Beginning inventory of finished goods is $46,500, and ending inventory of finished goods is expected to be $38,000 Required: 1. Prepare a statement of cost of goods sold in good form. Pietro Frozen Foods, Inc. Statement of Cost of Goods Sold For the Coming Year