Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $36,000, $30,000, and $27,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $41,000, $33,000, and $19,000, respectively. Direct materials purchases were $570,000, direct labor was $224,000 for the year, and factory overhead was $160,000.

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

Please fill in the following blanks:

Finished goods inventory, January 1			$
Work in process inventory, January 1		$
Direct materials:
Direct materials, January 1	$
Direct materials purchases	fill in the blank
Cost of direct materials available for sale	$
Direct materials inventory, December 31	fill in the blank
Cost of direct materials placed in production	$
Direct labor	fill in the blank
Factory overhead	fill in the blank
Total manufacturing costs		fill in the blank
Total work in process during the period		$
Work in process inventory, December 31		fill in the blank
Cost of goods manufactured			fill in the blank
Cost of finished goods available for sale			$
Finished goods inventory, December 31			fill in the blank
Cost of goods sold			$