Prepare the budget for ending inventories.

Styling Co. manufactures clothing sets. Each set consists of four shirts, one jean, and one jacket. Manufacturing costs have remained stable during the last year. The manufacturing process is carried out through two (2) processes: Sewing (S) and Packaging (P). Information for budget: Manufacturing costs per sets Direct material: shirts (4) jeans jacket Budget for ending inventories Direct materials Per set (in dollars) Total (sets) in dollars shirts jeans jacket Total per set $ Total of ALL sets $ Finished Products Per set Direct materials shirts jeans jackets Total DM Direct labor $75.00 42.00 ........................................................... 20.00 Direct labor: Hour Dept. S Dept. P 2 Cost per hour $20.00 $10.00 Cost per set $40.00 $ 2.00 * Estimated based on last years Application base: Units to be produced Inventories: Total DL Beginning Ending (desired) Direct materials: Shirts............. Jeans .................... Jackets $ $15,000. $10,000 $ 5,000... .................... Overhead: Variable Fixed $20,000 $12,000 $ 7,000 ............. Total overhead Finished products .......... .............. 1,000 sets. ........ 1,200 sets At $304.00 Per set Total to manufacture one finished set Work in Process is inmaterial. The company uses FIFO. Total to manufacture all sets Sales Budget: 50,000 sets at a sale price estimated of $500. Manufacturing overhead Variable costs: $1,255,000 Manufacturing overhead fixed costs: $ 5,020,000