PROBLEM 23.2B Short Budgeting Problem LO23-4, LO23-5 Akeley Corporation manufactures and sells a single product. In preparing the budget for the first quarter, the company's cost accountant has assembled the following information. Units Dollars Sales (budgeted) Finished goods inventory, January 1 (actual) 180.000 22.000 7,200,000 550,000 Finished goods inventory, March 31 (budgeted) 16,000 ? Cost of finished goods manufactured (budgeted manufacturing costs are $24 per unit) ? The company uses the first-in, first-out method to report its inventory of finished goods. Instructions Compute the following budgeted quantities or dollar amounts. a. Planned production of finished goods (in units). b. Cost of finished goods manufactured. c. Finished goods inventory, March 31. (Remember to use the first-in, first-out method in pricing the inventory.) d. Cost of goods sold.