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Joshua Hill, Bates \& Hill Fabricators' production manager, has just received the company's sales budget for the first quarter: Its manufacturing overhead budget for the first quarter is as follows: He also has received the direct materials purchases budget and direct labor budget which were as follows: \begin{tabular}{|c|c|c|c|c|c|} \hline & January & February & March & Quarter & April \\ \hline Budgeted production & 27,400 & 28,800 & 32,400 & 88,600 & 32,400 \\ \hline Standard pounds per unit & 6 & 6 & 6 & 6 & 6 \\ \hline Production needs & 164,400 & 172,800 & 194,400 & 531,600 & 194,400 \\ \hline Budgeted ending inventory & 17,280 & 19,440 & 19,440 & 19,440 & \\ \hline Total DM required (lbs.) & 181,680 & 192,240 & 213,840 & 551,040 & \\ \hline Beginning inventory & 15,000 & 17,280 & 19,440 & 15,000 & \\ \hline Budgeted purchases (lbs.) & 166,680 & 174,960 & 194,400 & 536,040 & \\ \hline Standard cost per pound & $1.50 & $1.50 & $1.50 & $1.50 & \\ \hline Budgeted purchases cost & $250,020 & $262,440 & $291,600 & $804,060 & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline & January & February & March & Quarter \\ \hline Budgeted production & 27,400 & 28,800 & 32,400 & 88,600 \\ \hline Standard DLH per unit & 0.2 & 0.2 & 0.2 & 0.2 \\ \hline Total DLH required & 5,480 & 5,760 & 6,480 & 17,720 \\ \hline Standard wage rate & $18 & $18 & $18 & $18 \\ \hline Budgeted DL cost & $98,640 & $103,680 & $116,640 & $318,960 \\ \hline \end{tabular} Joshua plans to have 3,200 finished bricks at a cost of $49,280 in inventory at the beginning of the year. The company applies manufacturing overhead based on direct labor hours, and the current predetermined rates are $12.25 per direct labor hour for fixed manufacturing overhead and $1.75 per direct labor hour for variable manufacturing overhead. Prepare Bates \& Hill's ending inventory and cost of goods sold budget for the first quarter. Assuming that the company has no ces, e.g. 5.33 \& all other answers to 0 decimal places, e.g. 5,275.) Ending FG Inventory (units) Ending FG Inventory (\$) Cost of Goods Sold Direct Materials used Direct Labor Overhead Total Mfg. Cost Ending WIP COGM Beginning FG Inventory Ending FG Inventory Budgeted COGS $ Joshua Hill, Bates \& Hill Fabricators' production manager, has just received the company's sales budget for the first quarter: Its manufacturing overhead budget for the first quarter is as follows: He also has received the direct materials purchases budget and direct labor budget which were as follows: \begin{tabular}{|c|c|c|c|c|c|} \hline & January & February & March & Quarter & April \\ \hline Budgeted production & 27,400 & 28,800 & 32,400 & 88,600 & 32,400 \\ \hline Standard pounds per unit & 6 & 6 & 6 & 6 & 6 \\ \hline Production needs & 164,400 & 172,800 & 194,400 & 531,600 & 194,400 \\ \hline Budgeted ending inventory & 17,280 & 19,440 & 19,440 & 19,440 & \\ \hline Total DM required (lbs.) & 181,680 & 192,240 & 213,840 & 551,040 & \\ \hline Beginning inventory & 15,000 & 17,280 & 19,440 & 15,000 & \\ \hline Budgeted purchases (lbs.) & 166,680 & 174,960 & 194,400 & 536,040 & \\ \hline Standard cost per pound & $1.50 & $1.50 & $1.50 & $1.50 & \\ \hline Budgeted purchases cost & $250,020 & $262,440 & $291,600 & $804,060 & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline & January & February & March & Quarter \\ \hline Budgeted production & 27,400 & 28,800 & 32,400 & 88,600 \\ \hline Standard DLH per unit & 0.2 & 0.2 & 0.2 & 0.2 \\ \hline Total DLH required & 5,480 & 5,760 & 6,480 & 17,720 \\ \hline Standard wage rate & $18 & $18 & $18 & $18 \\ \hline Budgeted DL cost & $98,640 & $103,680 & $116,640 & $318,960 \\ \hline \end{tabular} Joshua plans to have 3,200 finished bricks at a cost of $49,280 in inventory at the beginning of the year. The company applies manufacturing overhead based on direct labor hours, and the current predetermined rates are $12.25 per direct labor hour for fixed manufacturing overhead and $1.75 per direct labor hour for variable manufacturing overhead. Prepare Bates \& Hill's ending inventory and cost of goods sold budget for the first quarter. Assuming that the company has no ces, e.g. 5.33 \& all other answers to 0 decimal places, e.g. 5,275.) Ending FG Inventory (units) Ending FG Inventory (\$) Cost of Goods Sold Direct Materials used Direct Labor Overhead Total Mfg. Cost Ending WIP COGM Beginning FG Inventory Ending FG Inventory Budgeted COGS $
