I only need the cost of goods sold budget.

Allison Manufacturing produces a subassembly used in the production of jet aircraft engines. The assembly is sold to engine manufacturers and aircraft maintenance facilities. Projected sales in units for the coming 5 months follow: January 40,000 February 60,000 March 70,000 April 70,000 May 62,000 The following data pertain to production policies and manufacturing specifications followed by Allison Manufacturing: a. Finished goods inventory on January 1 is 32,000 units, each costingDirect Material Metal Components Supplies Power Maintenance Supervision Depreciation Taxes Other 3. Finished goods inventory on January 1 is 32,000 u its, each costing $166.06. The desired ending inventory for each month is 80% of the next month's sales. b. The data on materials used are as follows: Per-Unit DM Unit Usage Cost 10 lbs. $8 6 5 Inventory policy dictates that sufcient materials be on hand at the end of the month to produce 50% of the next month's production needs. This is exactly the amount of material on hand on December 31 of the prior year. c. The direct labor used per unit of output is 3 hours. The average direct labor cost per hour is $14.25. :1. Overhead each month is estimated using a exible budget formula. (Note: Activity is measured in direct labor hours.) Variable- Cost Fixed-Cost Component Component 7 $1.00 0.50 $30,000 0.40 16,000 200,000 12,000 80,000 e. Monthly selling and administrative expenses are also estimated using a exible budgeting formula. (Note: Activity is measured in units sold.) Fixed Variable Costs Costs Fixed Costs Salaries $50,000 Commissions 7 Depreciation 40,000 7 Shipping 7 1.00 Other 20,000 0.60 Variable Costs $2.00 f. The unit selling price of the subassembly is $205. 9. All sales and purchases are for cash. The cash balance on January 1 equals $400,000. The rm requires a minimum ending balance of $50,000. If the rm develops a cash shortage by the end of the month, sufficient cash is borrowed to cover the shortage. Any cash borrowed is repaid at the end of the quarter, as is the interest due (cash borrowed at the end of the quarter is repaid at the end of the following quarter). The interest rate is 12% per annum. No money is owed at the beginning of January. Required: 1. Prepare a monthly operating budget for the rst quarter with the following schedules. (Note: Assume that there is no change in workin process inventories.) a. Sales budget b. Production budget c. Direct materials purchases budget d. Direct labor budget e. Overhead budget f. Selling and administrative expenses budget 9. Ending nished goods inventory budget h. Cost of goods sold budget i. Budgeted income statement