James Williams, Crane & Williams Fabricators production manager, has just received the companys sales budget for the first quarter:

		January			February			March			Quarter
Budgeted unit sales		20,000			23,000			30,000			73,000
Budgeted ending inventory		4,600			6,000			6,800			6,800
Total units required		24,600			29,000			36,800			79,800
Beginning inventory		3,200			4,600			6,000			3,200
Budgeted production		21,400			24,400			30,800			76,600

January February March Quarter Budgeted production 21,400 24,400 30,800 76,600 Standard DLH per unit x 0.20 x 0.20 x 0.20 x 0.20 Total DLH required 4,280 4,880 6,160 15,320 Standard wage rate * $20 x $20 * $20 x $20 Budgeted DL cost $85,600 $97,600 $123,200 $306,400 Joshua plans to have 3,200 finished bricks at a cost of $46,000 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 Crane & Hill's ending inventory and cost of goods sold budget for the first quarter. Assuming that the company has no beginning and ending WIP inventory. (Round unit cost to 2 decimal places, e.g. 5.33 & all other answers to O decimal places, e.g. 5,275.) He also has received the direct materials purchases budget and direct labor budget which were as follows: January February March Quarter April Budgeted production 21,400 24,400 30,800 76,600 32,400 Standard pounds per unit x6 x 6 x6 x 6 x 6 Production needs 128,400 146,400 184,800 459,600 194,400 Budgeted ending inventory 14,640 18,480 19,440 19,440 Total DM required (lbs.) 143,040 164,880 204,240 479,040 Beginning inventory 12,000 14,640 18,480 12,000 Budgeted purchases (lbs.) 131,040 150,240 185,760 467,040 Standard cost per pound $1.00 $1.00 $1.00 $1.00 Budgeted purchases cost $131,040 $150,240 $185,760 $467,040 Direct Materials >