Pietro Frozen Foods, Inc., produces frozen pizzas. For next year. Pletro predicts that 50,000 units will be produced, with the following total cost Direct materials ? Direct labor 558,000 Variable overhead 15.000 Fixed overhead 250,000 Next year, Pietro expects to purchase $127,500 ot direct materials, projected beginning and ending inventories for direct materials and work in proces are as follows: Direct materials Inventory $7,000 $5,900 Beginning Ending Required: Work in Process Inventory $12.300 $14,300 1. Prepare a statement of cost of goods manufactured Pietro Frozen Foods, Inc. Statement of Cost of Goods Manufactured For the Coming Year Direct materials Beginning inventory Add: Purchases Materials available Less: Ending inventory Direct materials used in production Direct labor Manufacturing (Factory) overhead Total manufacturing costs added Add: Beginning work in process QOLI QUIJI 10 Endir Direct materials Beginning inventory Add: Purchases Materials available Less: Ending inventory Direct materials used in production Direct labor Manufacturing (Factory) overhead Total manufacturing costs added Add: Beginning work in process Less: Ending work in process blo Juli Cost of goods manufactured 2. What if the ending inventory of direct materials increased by $1,300? Indicate the affect that this would have on the items listed below: Direction of change Amount Direct materials used decrease by Total manufacturing costs decrease by 5 Cost of goods manufactured decrease by