Spring Manufacturing Company makes two components identified as C12 and D57. Selected budgetary data for 2022 follow:

	Finished Components
C12	D57
Requirements for each finished component:
RM 1	10	pounds	8	pounds
RM 2	0		4	pounds
RM 3	2	pounds	1	pound
Direct labor	2	hours	3	hours
Product information:
Sales price	$ 150		$ 220
Sales (units)	12,000		9,000
Estimated beginning inventory (units)	400		150
Desired ending inventory (units)	300		200

	Direct Materials Information
RM1	RM2	RM3
Cost per pound	$ 2.00	$ 2.50	$ 0.50
Estimated beginning inventory in pounds	3,000	1,500	1,000
Desired ending inventory in pounds	4,000	1,000	1,500

The firm expects the average wage rate to be $25 per hour in 2022. Spring Manufacturing uses direct labor hours to apply overhead. Each year the firm determines the overhead application rate for the year based on budgeted direct labor hours for the year. The firm maintains negligible Work-in-Process Inventory and expects the cost per unit for both beginning and ending inventories of finished products to be identical.

	Factory Overhead Information
Indirect materialsvariable	$ 10,000
Miscellaneous supplies and toolsvariable	5,000
Indirect laborvariable	40,000
Supervisionfixed	120,000
Payroll taxes and fringe benefitsvariable	250,000
Maintenance costsfixed	20,000
Maintenance costsvariable	10,080
Depreciationfixed	71,330
Heat, light, and powerfixed	43,420
Heat, light, and powervariable	11,000
Total	$ 580,830

	Selling and Administrative Expense Information
Advertising	$ 60,000
Sales salaries	200,000
Travel and entertainment	60,000
Depreciationwarehouse	5,000
Office salaries	60,000
Executive salaries	250,000
Supplies	4,000
Depreciationoffice	6,000
Total	$ 645,000

The effective income tax rate for the company is 40%.

Required: Prepare the Cost of goods sold and ending finished goods inventory budgets for 2022.

\begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ SPRING MANUFACTURING COMPANY } \\ \hline \multicolumn{7}{|c|}{ Ending Finished Goods Inventory and Budgeted CGS } \\ \hline \multicolumn{7}{|c|}{ For the Year 2022} \\ \hline & & & & & & \\ \hline Sales volume & & & & & & 0 \\ \hline \multicolumn{7}{|l|}{ Cost per unit } \\ \hline Cost of goods sold & $ & 0 & $ & 0 & $ & 0 \\ \hline \multicolumn{7}{|l|}{ Ending finished goods inventory } \\ \hline \\ \hline Budgeted ending inventories & $ & 0 & $ & 0 & $ & 0 \\ \hline \end{tabular}