The Arthur Company budgeted T-account for finished goods inventory is The Direct materials budget reports $24 of direct materials going into production. The Direct labor budget reports $100 of direct labor going into production. The Factory overhead budget reports $36 of factory overhead going into production. The Cost of goods sold budget will report Beginning Finished goods inventory of $30 Total manufacturing costs of $80 Cost of goods sold expense of $120 Ending Finished goods inventory of $15