E22-25 from Horngrens Accounting Twelfth Edition

Preparing an operating budget - Cost of goods sold budget Refer to the budgets prepared in exercise E22-24. Determine the cost per kit to manufacture the model airplane kits. Grady projects sales of 100, 150, 100, and 200 kits for the next four quarters. Prepare a cost of goods sold budget for the year. Grady has no kits in the beginning inventory. Round amounts to two decimal places. Previous information from E22-24

Direct Materials budget for the past four quarters. 1. $1950 2. 1980 3. 1860 4. $2360 Total = $8150

Direct labor budget 1. $650 2. 500 3. 450 3. $600 Total = $2200

Manufacturing Overhead 1. $295 2. 265 3. 255 4. $285 Total = $1100