Jones Corporation has the following budgeted sales for the selected four-month period: Sales price per unit is $180. Plans are to have an inventory of finished product equal to 20% of the unit sales for the Plans are to have an inventory of finished product equal to 20 percent of the unit sales for the next month. There were 4,000 units in beginning inventory on July 1. Three pounds of materials are required for each unit produced. Each pound of material costs $20. Inventory levels for materials equal 30 percent of the needs for the next month. Desired ending inventory for September is 25,200 pounds of material. Beginning inventory for July was 20,700 pounds of material. Each unit requires 0.6 hour of direct labor, and the average wage rate is $16 per hour. Variable overhead rate is $3.50 per direct labor hour. There is also fixed overhead of $22,000 per month. The company pays a 3% commission on sales. The Company has fixed selling and administrative expenses as follows: Rent $6,000/ month The Company has fixed selling and administrative expenses as follows: If required, round your answers, unless otherwise noted, to the nearest whole dollar. G. Prepare an ending finished goods inventory budget for the quarter. [Hint: You have already calculated the desired ending finished goods inventory quantity. Assume a stable per-unit rate. (Round the per-unit fixed factory overhead rate to two decimal places.)] Jones Corporation Ending Finished Goods Inventory Budget Jones Corporation has the following budgeted sales for the selected four-month period: Sales price per unit is $180. Plans are to have an inventory of finished product equal to 20% of the unit sales for the Plans are to have an inventory of finished product equal to 20 percent of the unit sales for the next month. There were 4,000 units in beginning inventory on July 1. Three pounds of materials are required for each unit produced. Each pound of material costs $20. Inventory levels for materials equal 30 percent of the needs for the next month. Desired ending inventory for September is 25,200 pounds of material. Beginning inventory for July was 20,700 pounds of material. Each unit requires 0.6 hour of direct labor, and the average wage rate is $16 per hour. Variable overhead rate is $3.50 per direct labor hour. There is also fixed overhead of $22,000 per month. The company pays a 3% commission on sales. The Company has fixed selling and administrative expenses as follows: Rent $6,000/ month The Company has fixed selling and administrative expenses as follows: If required, round your answers, unless otherwise noted, to the nearest whole dollar. G. Prepare an ending finished goods inventory budget for the quarter. [Hint: You have already calculated the desired ending finished goods inventory quantity. Assume a stable per-unit rate. (Round the per-unit fixed factory overhead rate to two decimal places.)] Jones Corporation Ending Finished Goods Inventory Budget