Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,200 units will be produced, with the following total costs:

Direct materials	?
Direct labor	70,000
Variable overhead	28,000
Fixed overhead	235,000

Next year, Pietro expects to purchase $117,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows:

	Direct materials Inventory	Work-in-Process Inventory
Beginning	$5,000	$12,700
Ending	$4,900	$14,700

Pietro expects to produce 50,200 units and sell 49,500 units. Beginning inventory of finished goods is $43,500, and ending inventory of finished goods is expected to be $35,000.

Required:

1. Prepare a statement of cost of goods sold in good form.

Pietro Frozen Foods, Inc.
Statement of Cost of Goods Sold
For the Coming Year
Cost of goods manufactured	$
Add: Beginning finished goods
Cost of goods available for sale	$
Less: Ending finished goods
Cost of goods sold