TI6-5 (book/static) Question Help * imenez Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017 (Click the icon to view the information .) Calculate (1) the cost of goods sold budget (label it Schedule 7) (2) the nonmanufacturing costs budget (label it Schedule 8) and (3) the operating income budget for the year ending December 31 2017 (1). Begin by calculating (1) the cost of goods sold budget (label it Schedule 7) for the year ending Decmbr 31, 2017 Schedule 7: Cost of Goods Sold Budget for the Year Ending December 31, 2017 Direct materials used Direct manufacturing labor Manufacturing overhead Cost of goods manufactured Beginning finished goods inventory, January 1, 2017 350000 $ 100,000 143.000 593000 76200 669,200 59,300 $ 609,900 Add ending finished goods inventory, December 31, 2017 Cost of goods sold Data Table Revenues Beginning inventory of finished goods (1-1-2017) Ending inventory of finished goods, 12-31-2017 Direct materials used Direct manufacturing labor Manufacturing overhead $ 925,000 76,200 59,300 350,000 100,000 143,000 Variable marketing costs (4% of revenues) 43,000 Fixed marketing costs Variable distribution costs ($1.50 per cu. ft. for 30,000 cu. ft.) Fixed distribution costs 40,000 Fixed administration costs 75,000 Print Done