Use the preceding information to prepare a cost of goods sold budget for September. For those boxes in which you must enter subtracted or negative numbers use a minus sign. MingWare Ceramics Inc. Cost of Goods Sold Budget For the Month Ending September 30 Finished goods inventory, September 1 Work in process inventory, September 1 Direct materials: Direct materials inventory, September 1 Direct materials purchases Cost of direct materials available for use Direct materials inventory, September 30 Cost of direct materials placed in production Direct labor Factory overhead. Total manufacturing costs Total work in process during the period Work in process inventory, September 30 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory, September 30 Cost of goods sold 1000 10000 Cost of Goods Sold Budget The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget for September. The controller assembled the following information for constructing the cost of goods sold budget: Direct materials: Total direct materials purchases budgeted for September Estimated inventory, September 1 Enamel Paint Porcelain $39,810 $8,360 $155,260 Total $203,430 1,250 3,000 5,000 9,250 Desired inventory, September 30 3,270 2,980 7,850 14,100 Direct labor cost: Kiln Department Decorating Department Total Total direct labor cost budgeted for September $53,070 $153,900 $206,970 Finished goods inventories: Dish Bowl Figurine Total Estimated inventory, September 1 Desired inventory, September 30 Work in process inventories: Estimated inventory, September 1 $5,160 $2,940 $2,430 $10,530 3,300 4,080 3,870 11,250 $3,150 Desired inventory, September 30 1,750 Budgeted factory overhead costs for September: Indirect factory wages $80,800 Depreciation of plant and equipment 12,930 Power and light 5,500 Indirect materials Total 3,200 102,4301