Kevin Young, Bramble & Young Fabricators' production manager, has just received the company's sales budget for the first quarter: Budgeted unit sales Budgeted ending inventory Total units required Beginning inventory Budgeted production January 24,000 5,400 29,400 3,200 26,200 February 27,000 6,000 33,000 5,400 27,600 March 30,000 6,800 36,800 6,000 30,800 Quarter 81,000 6,800 87,800 3,200 84,600 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 5,240 $1.75 9,170 98,900 108,070 February 5,520 $1.75 9,660 98,900 108,560 March 6,160 $1.75 10,780 98,900 109,680 Quarter 16,920 $1.75 29,610 296,700 326,310 31,000 $77,070 31,000 $77,560 31,000 $78,680 93,000 $233,310 He also has received the direct materials purchases budget and direct labor budget which were as follows: Quarter 84,600 April 32,400 x 6 x 6 194,400 Budgeted production Standard pounds per unit Production needs Budgeted ending inventory Total DM required (lbs.) Beginning inventory Budgeted purchases (lbs.) Standard cost per pound Budgeted purchases cost January 26,200 x 6 157,200 16,560 173,760 15,000 158,760 $1.50 $238,140 February 27,600 x 6 165,600 18,480 184,080 16,560 167,520 $1.50 $251,280 March 30,800 x 6 184,800 19,440 204,240 18,480 185,760 $1.50 $278,640 507,600 19,440 527,040 15,000 512,040 $1.50 $768,060 Budgeted production Standard DLH per unit Total DLH required Standard wage rate Budgeted DL cost January 26,200 x 0.20 5,240 $20 $104,800 February 27,600 x 0.20 5,520 $20 $110,400 March 30,800 x 0.20 6,160 * $20 $123,200 Quarter 84,600 x 0.20 16,920 x $20 $338,400 Joshua plans to have 3,200 finished bricks at a cost of $48,000 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 Bramble & 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 0 decimal places, e.g. 5,275.) Prepare Bramble & 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 decimal places, e.g. 5,275.) Direct Materials Beginning DM Inventory $ 22,500 DM Purchases 768,060 DM used in Production 761,400 i Ending DM Inventory $ 29,160 Finished Goods Inventory Unit Costs Direct Material $ Direct Labor Overhead Total Std. Cost per unit $ Ending FG Inventory (units) Ending FG Inventory ($) $ Cost of Goods Sold Beginning WIP $ 0 Direct Materials used Direct Labor Overhead Total Mfg. Cost Ending WIP 0 COGM Beginning FG Inventory Ending FG Inventory Budgeted COGS