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Firelight Corporation manufactures and solis two types of decorativo lamps, Knox and Ayer. The following data are available for the year 2017 Click the icon to view the information ) Calculate (1) the cost of goods sold budget (label Schedulo 7) (2) the normanufacturing costs budget (label it Schedulo 8) and (3) the operating income budget for the year ending December 31, 2017 m (1). Begin by calculating (1) the cost of goods sold budget (labelt Schedulo 7) for the year ending December 31, 2017 Schedule 7: Cost of Goods Sold Budget for the Year Ending December 31, 2017 de er cal edi - x lating (1) the ce Data table Sche for ti Revenues $ EA 1,012.000 89,260 87,280 351,000 93,600 234,200 Beginning inventory of finished goods (1-1-2017) Ending inventory of finished goods, 12-31-2017 Direct materials used Direct manufacturing labor Manufacturing overhead Variable marketing costs (5% of revenues) Fixed marketing costs Variable distribution costs ($3.00 per cu. ft. for 28,000 cu. ft.) Fixed distribution costs Fixed administration costs 37,000 43,000 76,000