Preparing a cost of Goods Sold Budget Lazio Company manufactures a line of table lamps. Each lamp takes $5.00 of direct materials and uses 0.9 direct labor hour at $18.00 per direct labor hour. The variable overhead rate is $1.00 per direct labor hour and the fixed overhead rate is $2.00 per direct labor hour. Lazlo expects to produce 16,000 lamps next year and expects to have 830 lamps in ending Inventory. There is no beginning inventory of table lamps. Required: Prepare a cost of goods sold budget for Lazlo Company. Enter all amounts as positive numbers. Lazio Company Cost of Goods Sold Budget For the Coming Year Direct materials 80,000 Direct labor 259,200 Variable overhead 14,400 28.800 Fixed overhead Total manufacturing cost $382,400