Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $40,000, $31,000, and $28,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $44,000, $36,000, and $23,000, respectively. Direct material purchases were $580,000, direct labor was $227,000 for the year, and factory overhead was $144,000.

Required: Prepare a cost of goods sold budget for Sleep Tight, Inc. Refer to the lists of

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