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Elite Accessories wishes to prepare a cost of goods sold budget for the year ended December 31, 20-. The controller assembled the information for constructing the cost of goods sold budget. Click on the table icon to view the details. Prepare a (a) Production budget (b) Direct materials purchases budget (c) Direct labor cost budget and (d) Cost of goods sold budget. Move the slider to change the values. Expected wallet units to be sold 280,000 404,000 528,000 700,000 Click on to view the information. Expected handbag units to be sold 528,000 404,000 280,000 108,000 The production budget estimates the number of units to be manufactured to meet budgeted sales and desired inventory levels. In this scenario 520,000 be produced (528,000+80,000-88,000) and the 292,000 handbags will be produced (280,000+60,000-48,000) wallets wil Cese Elite Accessories Production Budget For the Year Ending December 31, 20- Units Wallet 528,000 80,000 608,000 88,000 280,000 60,000 340,000 48,000 Expected units to be sold Plus desired ending inventory, December 31, 20- Total Less estimated beginning inventory, January 1, 20 Total units to be produced 520,000 292,000 Elite Accessories Direct Materials Purchases Budget For the Year Ending December 31, 20- Direct Materials Total Leather Lining Square yards required for production 156,0002,0000 Wallet

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