Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 51,200 units will be produced, with the following total costs: ? Direct materials Direct labor Variable overhead 67,000 17,000 180,000 Fixed overhead Next year, Pietro expects to purchase $123,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Work-in-Process Inventory Inventory $4,000 $14,000 Beginning Ending $3,900 $16,000 Pietro expects to produce 51,200 units and sell 50,500 units. Beginning inventory of finished goods is $39,500, and ending inventory of finished goods is expected to be $31,000. 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 39,500 Cost of goods available for sale Less: Ending finished goods Cost of goods sold