Preparing an Ending Finished Goods Inventory Budget Andrews Company manufactures a line of office chairs. Each chair takes $16 of direct materials and uses 1.9 direct labor hours at $16 per direct labor hour. The variable overhead rate is $1.30 per direct labor hour, and the fixed overhead rate is $1.40 per direct labor hour. Andrews expects to have 600 chairs in ending inventory. There is no beginning inventory of office chairs. Required: 1. Calculate the unit product cost. Round your answer to the nearest cent. 2. Calculate the cost of budgeted ending inventory. Round your answer to the nearest dollar. Wight Inc. purchases raw materials on account for use in production. The direct materials purchases budget shows the following expected purchases on account: April $373,100 May 411,000 June 416,600 Wight typically pays 40% on account in the month of billing and 60% the next month. Required: 1. How much cash is required for payments on account in May? 2. How much cash is expected for payments on account in June