Joshua Hill, Bates & Hill Fabricators production manager, has just received the companys sales budget for the first quarter:

He also has received the direct materials purchases budget and direct labor budget which were as follows:

Joshua plans to have 2,632 finished bricks at a cost of $23,030 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 per direct labor hour for fixed manufacturing overhead and $0.70 per direct labor hour for variable manufacturing overhead. Prepare Bates & Hills 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 3 decimal places, e.g. 0.533 & all other answers to 0 decimal places, e.g. 5,275.)

THANKYOU!

January February March Quarter Budgeted unit sales Budgeted ending inventory Total units required Beginning inventory Budgeted production 9,400 18,330 16,450 44,180 3,666 3,290 2,726 2,726 13,066 |21,620 | 19,176 46,906 2,632 3,666 3,290 2,632 10,434 17,954 15,886 44,274 |A. BINI Its manufacturing overhead budget for the first quarter is as follows: DLH worked VOH per DLH Budgeted VOH Budgeted FOH Total Budgeted MOH Noncash MOH items Depreciation Total Cash MOH cost January February March Quarter 2,609 4,489 3,972 11,070 $0.70 $0.70 $0.70 $0.70 1,826 3,142 2,780 7,748 52,875 52,875 52,875 158,625 54,701 56,017 55,655 166,373 14,100 14,100 14,100 $40,601 $41,917 $41,555 42,300 $124,073