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Dazzling Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017. E (Click the icon to view the information.) Calculate (1) the cost of goods sold budget (label it Schedule 7) (2) the nonmanufacturing costs budget (label it Schedule 8) and (3) the operating income budget for the year ending December 31, 2017 (1). Begin by calculating (1) the cost of goods sold budget (label it Schedule 7) for the year ending December 31, 2017 $ 66,720 Schedule 7: Cost of Goods Sold Budget for the Year Ending December 31, 2017 Beginning finished goods inventory, January 1, 2017 Direct manufacturing labor S Manufacturing overhead Direct materials used Cost of goods manufactured Cost of goods available for sale Deduct ending finished goods inventory, December 31, 2017 136,500 148.000 486.000 770,500 837,220 54,645 Cost of goods sold S 782.575 (2). Calculate the nonmanufacturing costs budget (label it Schedule 8) for the year ending December 31, 2017. (If a box is not used in the table leave the box empty, do not enter a zero.) Schedule 8: Nonmanufacturing Costs Budget x for the Year Ending December 31, 2017 Data Table Business Function Variable Costs Fixed Costs Total Costs $ 1,301,300 66,720 54,645 486,000 136,500 Revenues 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 (3% of revenues) Fixed marketing costs Variable distribution costs ($1.00 per cu. ft. for 32,000 cu. ft.) Fixed distribution costs Fixed administration costs 148,000 37,000 41,000 74,000 Choose from any list or enter any number in the input fields and then click Check Ans Print Done part remaining