Preparing a Cost of Goods Sold budget Andrews Company manufactures a line of office chairs. Each chair takes $14 of direct materials and utes 1.9 direct labor hours at 116 per drect labor hour. The varable averhead rate is $1.20 per direct labor hour, and the fived everhead rate is $1.60 per dicect labse hout. Andrems expects to produce 20.000 chairs next year and erpects to have 675 chairs in ending inventory. There is no beginhing inventory of office chairs. Required: Prepare a cost of goods sold budget for Andrews Company