QUESTION 7 Ending Inventory Budget As the senior Production Manager at Service, it is your job to oversee the preparation of the master budget. You have been waiting on the manufacturing overhead budget, so you can complete the finished goods inventory budget. Having the balance for finished goods inventory is needed before you can move on to the budgeted financial statements that are part of your job. Complete the following table and calculate the Unit Production Cost? Service Shoe Company Ending Finished Goods Inventory Budget Item Production cost per pair Quantity Cost Total Direct materials (from direct materials budget) 5 unit $2 unit $10 Direct labor (from direct labor budget) 0.5 hour $20 hour Manufacturing overheard (from manufacturing overhead budget) 0.5 hour $11 hour Unit production Cost 150 ? Budgeted finished goods inventory Ending finished goods inventory (in pairs)-from production budget Unit product cost (from above) Ending finished goods inventory in dollars $27.50 O $25.50 $27.00 $26.50 S3.825