Prepare a Ending Finished Goods Inventory Budget for the quarter. Please show your work for hor you got the solution. also could you please clearly label each section for eacg photo. thank you.

Jones Corporation has the following budgeted sales for the selected four-month period: Month Unit Sales July 20,000 August 35,000 September 25,000 October 30,000 Sales price per unit is $180 Plans are to have an inventory of finished product equal to 20 percent of the unit sales for the next month. There were 4,000 units in beginning inventory on July 1. Three pounds of materials are required for each unit produced. Each pound of material costs $20. Inventory levels for materials equal 50 percent of the needs for the next more Dested ending inventory for September is 25,200 pounds of material, Beginning inventory for July was 20,700 pounds of material Each unit requires 0.6 hours of direct labor and the average wage rate is $16 per hour. Variable overhead rate is $3.50 per direct labor hour. There is also foed overhead of $22,000 per month, The company pays a 3% commission on sales. The Company has fixed selling and administrative expenses as follows: Rerut $6,000/month Utilities Advertising $400/month Office Salaries 535,000/month $1,200/month H. Prepare a cost of goods sold budget for the quarter. Jones Corporation Cost of goods sold Budget Direct materials 5,010,000 X Direct labor 787,200 Overhead 238,200 Add: Beginning inventory 294,400 X Goods available for sale 6,329,000 X Less: Ending inventory 441,600 X Cost of goods sold $ 5,888,200 X Jones Corporation Budgeted Income Statement Sales 14,400,000 Cost of goods sold 5,888,200X Gross margin Less: Variable selling and adm. expenses 8,511,800 x 432,000 Less: Fixed selling and administrative expenses 294,400 X Operating income Less: Income tax expense 7,785,400 x 2,783,200X Net income 5,002,200 X Feedback udget Project Print Item G. Prepare an ending finished goods inventory budget for the quarter. (Hint: You have already calculated the desired ending unit fixed factory overhead rate to two decimal places.) Jones Corporation Ending Finished Goods Inventory Budget 6,000 X Desired ending inventory Direct materials Direct labor 5,010,000 X 787,200 X Overhead: Variable overhead 172,200 X Fixed overhead 66,000 X Unit cost 6,060,600 X