Production Sales Budget Direct Mtls Direct Lbr Factory OH Selling Exp Admin Exp Cost of Income Budget Budget Budget Budget Budget Budget Goods SoldStatement Requirement Using information from the sales budget and the following information, calculate the budgeted cost of goods sold for Johnson Inc. The product's manufacturing cost is $127 per unit, including per unit costs of $56 for materials (4 lbs. at $14 per lb.), $40 for direct labor (2 hours x $20 direct labor rate per hour), $23 for variable overhead, and $8 for fixed overhead. Annual fixed overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $12,900; factory utilities, $16,200, and other factory overhead of $3,252. Show less Johnson Inc. Cont of Goods Sold Budget For tho year ended December 31, 2018 First or Second Qtr. Third Otr. Fourth Otr. Total 1,080 720 980 960 3,720 Cost of goods sold Admin Exp Budget Income Statement >