Sleep Tight, Inc., manufactures comforters. The estimated inventories on January for finished goods, work in process, and materials were $ $ and $ respectively. The desired inventories on December for finished goods, work in process, and materials were $$ and $ respectively. Direct materials purchases were $ direct labor was $ for the year, and factory overhead was $
Prepare a cost of goods sold budget for Sleep Tight, Inc.
Sleep Tight, Inc.
Cost of Goods Sold Budget
For the Year Ending December
Line Item Description
Finished goods inventory, January
Work in process inventory, January
Direct materials:
Direct materials, January
Direct materials purchases
Cost of direct materials available for sale
Direct materials inventory, December
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, December
Cost of goods manufactured
Cost of finished goods available for sale
Finished goods inventory, December
Cost of goods sold
Amount Amount Amount
$
$
$
$
S
