Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $37,000, $34,000, and $28,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $43,000, $35,000, and $21,000, respectively. Direct materials purchases were $565,000, direct labor was $242,000 for the year, and factory overhead was $159,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold Budget For the Year Ending December 31 Amount Amount Amount Line Item Description Finished goods inventory, January 1 Work in process inventory, January 1 Direct materials: Direct materials, January 1 Direct materials purchases Cost of direct materials available for sale Direct materials inventory, December 31 Cost of direct materials placed in production $ Direct labor Factory overhead Total manufacturing costs Total work in process during the period Work in process inventory, December 31 Cost of goods manufactured Cost of finished goods available for sale $ 000 000 Previous Next

Slerp Tight, Inc, menufactures comforters. The eitimated inventeries on January i for finished goods, work in process, and materials were 537,000,$34,000, and. 121,000, respectively, The desired invertories an December 31 for fished goods, work in process, and materials were s43,000, $35,000, and 121,000, respectively Direct materiais puchuses were 1865,000 , deect labor mas 1242,000 for the yeeb, and factory overhead was $159,000 Prepare a cost of goods sold budget for Sleep Tight, Inc