Sleep Tight, Inc., manufactures comforters. The estimated inventories on January $1$ for finished goods, work in process, and materials were $$39,000,$ $$32,000,$ and $$26,000,$ respectively. The desired inventories on December $31$ for finished goods, work in process, and materials were $$41,000,$ $$37,000,$ and $$20,000,$ respectively. Direct materials purchases were $$550,000,$ direct labor was $$219,000$ for the year, and factory overhead was $$156,000.$

Prepare a cost of goods sold budget for Sleep Tight, Inc.

Sleep Tight, Inc.

Cost of Goods Sold Budget

For the Year Ending December $31$

Finished goods inventory, January $1$ $fill in the blank $1$

Work in process inventory, January $1$ $fill in the blank $2$

Direct materials:

Direct materials, January $1$ $fill in the blank $3$

Direct materials purchases fill in the blank $4$

Cost of direct materials available for sale $fill in the blank $5$

Direct materials inventory, December $31$ fill in the blank $6$

Cost of direct materials placed in production $fill in the blank $7$

Direct labor fill in the blank $8$

Factory overhead fill in the blank $9$

Total manufacturing costs fill in the blank $10$

Total work in process during the period $fill in the blank $11$

Work in process inventory, December $31$ fill in the blank $12$

Cost of goods manufactured fill in the blank $13$

Cost of finished goods available for sale $fill in the blank $14$

Finished goods inventory, December $31$ fill in the blank $15$

Cost of goods sold $fill in the blank $16$ Sleep Tight, Inc., manufactures comforters. The estimated inventories on January $1$ for finished

goods, work in process, and materials were $$39,000,$$$32,000,$ and $$26,000,$ respectively. The

desired inventories on December $31$ for finished goods, work in process, and materials were

$$41,000,$$$37,000,$ and $$20,000,$ respectively. Direct materials purchases were $$550,000,$ direct

labor was $$219,000$ for the year, and factory overhead was $$156,000.$

Prepare a cost of goods sold budget for Sleep Tight, Inc.

Sleep Tight, Inc.

Cost of Goods Sold Budget

For the Year Ending December $31$

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

Finished goods inventory, December $31$

Cost of goods sold

$