$4$ Factory Overhead Budget

Overhead Allocation rate based on:

$1.$ Number of Units

Total Factory Overhead $/$ Number of Units

$($Round to two places, $##$.$##$)$ $$12\mathrm{.}51$

$5$ Cost of making one unit next year

Cost of one Lamp Kit

Labor Cost Per Lamp $$2\mathrm{.}13$

Factory overhead per unit

Total cost of one unit $$31\mathrm{.}04$

$($Round to two places, $##$.$##$)$

$6$ Selling and Admin. Budget

Fixed Selling

Variable Selling $($Round to two places, $##$.$##$)$ $$88,740\mathrm{.}00$

Fixed Administrative

Variable Administrative $($Round to two places, $##$.$##$)$ $$61,480\mathrm{.}00$

Total Selling and Administrative $($Round to two places, $##$.$##$)$ $$235,220\mathrm{.}00$

$7$ Cost of Goods Sold Budget $-$ Assume FIFO $($First$-$In$,$ First$-$Out$)$ and overhead is applied based on the number of units to be produced. Round dollars to two places, $##$.$##

Beginning Inventory, Finished Goods $$90,000\mathrm{.}00$

Production Costs:

Materials:

Lamp Kits:

Beginning Inventory $$8,000\mathrm{.}000$

Purchased $$469,040\mathrm{.}000$

Available for Use $$477,040\mathrm{.}000$

Ending Inventory of Lamp Kits $$11,480\mathrm{.}00$

Lamp Kits Used In Production

Total Materials: $$465,560\mathrm{.}00$

Labor $$60,492\mathrm{.}00$

Overhead $$355,208\mathrm{.}00$

Cost of Goods Available $$971,260\mathrm{.}00$

Less: Ending Inventory, Finished Goods

Cost of Goods Sold

calculate the cost of goods sold