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Preparing a Cost of Goods Sold Budget

Andrews Company manufactures a line of office chairs. Each chair takes $14 of direct materials and uses 1.9 direct labor hours at $14 per direct labor hour. The variable overhead rate is $1.20 per direct labor hour, and the fixed overhead rate is $1.60 per direct labor hour. Andrews Company expects to produce 20,000 chairs next year and expects to have 630 chairs in ending inventory. There is no beginning inventory of chairs.

Required:

Prepare a cost of goods sold budget for Andrews Company. Round your answers to the nearest dollar.