For some reason, COGS is not adding up

Inputs (Assumptions) for the Profit Planning Year Jan. 1 to Dec. 31, 2023 MyArmor, Inc. Set Input Values Back to Original Amounts As of Dec. 31 2022 Applies to All Qtrs. Fix the Format of All Yellow Cells Quarter in the 2023 Planning Year 2nd 3rd 1st Quarter of 2024 in 2023 1st 4th 3.000 units Production Budget Finished Units in Inventory - as of 12/31/2022 (the prior year) Forecasted Sales in Units - 1st Quarter of 2024 (next year) % of the Next Qtr.'s Sales in Units to Have in This Qtr.'s Ending Inventory 12,000 units 20% 30% 40% 20% 10 OZ 20% 15,000 oz 130,000 oz Raw Materials Budget Ounces of PlasticSteel Powder (PSP) Required per Finished Unit % of Next Qtr.'s "Ounces of Psp Required" to Have in This atr's Ending Inventory Ounces of Psp in Raw Materials Inventory - as of 12/31/2022 (the prior year}| ) Forecasted 'Ounces of Psp Required" in the 1st Qtr of 2024 (next year) ( Cost of Psp per Ounce Cash Payment Pattern for PsP Purchased in the 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $1.20 per oz $1.20 per oz 40% $1.10 per oz 30% 60% $1.10 per oz Remainder 20% 70% Remainder Remainder 80% Remainder Direct Labor Budget Direct Labor Hours (hrs) per Finished Unit Average cost of a Direct Labor Hour 0.20 hrs $18 per hour $20 per hour $20 per hour $18 per hour Manufacturing Overhead Budget Variable Overhead Cost Rate per Direct Labor Hour (DLH) Total Fixed Manufacturing Overhead Cost per Quarter Depreciation per Quarter Included in Fixed Manufacturing Overhead S6 per DLH $50,000 $7.000 Finished Goods Inventory Budget Direct Labor Budget DirectLabor Hours (hrs) per Finished Unit Average Costofa DirectLabor Hour 0.20 hrs $18 per hour $20 per hour $20 per hour $18 per hour Manufacturing Overhead Budget Variable Overhead CostRate per DirectLabor Hour (DLH) Total Fixed Manufacturing Overhead Costper Quarter Depreciation per Quarter included in Fixed Manufacturing Overhead $6 per DLH $50,000 $7,000 Finished Goods Inventory Budget No Required Input Data Cost of Goods Sold Budget Only Required Input Data is on the Prior Year Balance Sheetbelow $4 per unit $5,000 $40,000 $5,000 $40,000 $15,000 $45,000 $15,000 $50,000 Selling. General, and Administrative (SG&A) Budget Variable SG&A Costper Unit Sold Advertising Fixed Cost Salary Fixed Cost Mall Kiosk Rental Fixed Costper Quarter Utilities Fixed Costper Quarter Property Taxes Depreciation $2,000 $1,000 $0 $12,000 $12,000 $12,000 $0 $13,000 $12,000 $14,000 Cash Budaet Equipment Purchases Dividends Annual InterestRate Charged by the Bank on the Bank Loan $0 $20,000 $0 $20,000 $10,000 $20,000 $15,000 $20,000 6% Income Statement No Required Input Data Prior Year Balance Sheet as of Dec. 31. 2022 Cash Accounts Receivable Raw Material Inventory Finished Goods Inventory Property. Plant& Equipment, gross Accumulated Depreciation Total Assets $24,000 $125,000 $18,000 $60,000 $723,000 ($260,000) $690.000 Accounts Pavable Bank Loar Common Sock Retained Earnings Total Liabilities & Equity $28.000 $60,000 $160,000 $442,000 $690.000 Cost of Goods Sold Budget - for the Profit Planning Year Jan. 1 to Dec. 31, 2023 MyArmor, Inc. Test My Budget Raw Materials Inventory Raw Materials Inventory as of January 1, 2023 plus Total Cost of Psp Purchases for 2023 (from Raw Materials Budget) less Raw Materials Inventory as of December 31, 2023 (from Raw Materials Budget) () equals Cost of Raw Materials Transferred to Work-in-Process Inventory $15,000 668,160 (31,200) $651,960 Work-in-Process Inventory (WIP) $0 651,960 220,400 Work-in-Process Inventory as of January 1, 2023 plus Cost of Raw Materials Transferred to Work-in-Process Inventory plus Total Direct Labor $'s for 2023 (from Direct Labor Budget) plus Total Manufacturing Overhead Cost for 2023 (from Manufacturing Overhead Budget) less Work-in-Process Inventory as of December 31, 2023 () equals Cost of Work-in-Process Transferred to Finished Goods Inventory 268,880 (0) $1,141,240 Finished Goods Inventory and Cost of Goods Sold $60,000 Finished Goods Inventory as of January 1, 2023 plus Cost of Work-in-Process Transferred to Finished Goods Inventory less Finished Goods Inventory as of Dec. 31, 2023 (from Finished Goods Inventory Budget) 1,141,240 (48,480) Cost of Goods Sold $1,152,760 Check Amount $1,155,760 Raw Materials Budget - for the Profit Planning Year Jan. 1 to Dec. 31, 2023 MyArmor, Inc. Test My Budget Full Year Total Finished Units to Produce (from Production Budget) times Ounces of PlasticSteel Powder (PSP) Required per Finished Unit Ounces of Psp Required to produce the Finished Units 1st 9,800 units 10 oz per unit 98,000 oz Quarter in the 2023 Planning Year 2nd 3rd 16,000 units 18,400 units 10 oz per unit 10 oz per unit 160,000 oz 184,000 oz 4th 13,200 units 10 oz per unit 132,000 oz Ounces of PSP Required to produce the Finished Units plus Ounces of PsP Needed in Ending Raw Materials Inventory less Ounces of Psp Available from Beginning Raw Materials Inventory () Total Ounces of Psp to Purchase 98,000 oz 32,000 OZ (15,000) oz 115,000 oz 160,000 oz 36,800 oz (32,000) oz 164,800 oz 184,000 oz 26,400 oz (36,800) oz 173,600 oz 132,000 oz 26,000 oz (26,400) oz 131,600 oz 585,000 oz Total Ounces of Psp to Purchase times Cost of PSP per Ounce Total Cost of Psp Purchases Check Amount 115,000 oz $1.20 per oz $138,000 $ 138,000 164,800 oz $1.10 per oz $181,280 173,600 oz $1.10 per oz $190,960 131,600 oz $1.20 per oz $157,920 Check Amount $668,160 $668,160 3rd Qtr. 4th Qtr. Calculation of Cash Payments for Raw Materials - for the Cash Budget 1st Qtr. 2nd Qtr. Payment of December 31, 2022 Accounts Payable $28,000 Payment of 1st Qtr Psp Purchases $55,200 $41,400 Payment of 2nd Qtr Psp Purchases $108,768 Payment of 3rd Qtr Psp Purchases Partial Payment of 4th Qtr Psp Purchases Total Cash Payments for PSP $83,200 $150,168 Check Amounts $83,200 $150,168 $41,400 $36,256 $133,672 $36,256 $57,288 $126,336 $219,880 $219,880 $211,328 $211,328 Calculation of December 31, 2023 Accounts Payable - for the Balance Sheet 4th Quarter Total Cost of Psp Purchases $157,920 less Partial Payment of 4th Qtr Psp Purchases () ($126,336) Accounts Payable as of December 31, 2023 $31,584 Check Amount $31,584 Calculation of Dec. 31, 2023 Raw Materials Inventory (FIFO) for the Cost of Goods Sold Budget and the Balance Sheet 4th Quarter Ounces of Psp in Ending Raw Materials Inventory 26,000 oz times 4th Quarter Cost of PSP per Ounce $1.20 per oz Raw Materials Inventory as of December 31, 2023 $31,200 Check Amount $31,200 Direct Labor Budget - for the Profit Planning Year Jan. 1 to Dec. 31, 2023 MyArmor, Inc. Test My Budget Full Year Total Finished Units to Produce (from Production Budget) times Direct Labor Hours per Finished Unit equals Total Direct Labor Hours 1st 9,800 units 0.20 hrs 1,960 hrs Quarter in the 2023 Planning Year 2nd 3rd 16,000 units 18,400 units 0.20 hrs 0.20 hrs 3,200 hrs 3,680 hrs 4th 13,200 units 0.20 hrs 2,640 hrs 11,480 hrs Total Direct Labor Hours times Average Cost of a Direct Labor Hour Total Direct Labor $'s Check Amount 1,960 hrs $18 per hr $35,280 $35,280 3,200 hrs $20 per hr $64,000 3,680 hrs $20 per hr $73,600 2,640 hrs $18 per hr $47,520 Check Amount $220,400 $220,400 Fix the Format of All White Cells Cash Payments for Direct Labor - for the Cash Budget 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. * Total Cash Payments for Direct Labor $35,280 $64,000 $73,600 $47,520 * MyArmor pays all direct labor cost in the period incurred; thus Total Cash Payments = Total Direct Labor $'s - Manufacturing Overhead Budget - for the Profit Planning Year Jan. 1 to Dec. 31, 2023 MyArmor, Inc. Test My Budget Full Year Total 11,480 hrs Total Direct Labor Hours (from Direct Labor Budget) times Variable Overhead Cost Rate per Direct Labor Hour (DLH) equals Total Variable Manufacturing Overhead Cost Quarter in the 2023 Planning Year 2nd 3rd 3,200 hrs 3,680 hrs $6 per DLH $6 per DLH $19,200 $22,080 1st 1,960 hrs $6 per DLH $11,760 4th 2,640 hrs $6 per DLH $15,840 plus Total Fixed Manufacturing Overhead Cost Total Manufacturing Overhead Cost Check Amount $50,000 $61,760 $61,760 $50,000 $69,200 $50,000 $72,080 $50,000 $65,840 Check Amount $268,880 $268,880 Full Year Total Calculation of Cash Payments for Manufacturing Overhead - for the Cash Budget 1st Qtr. 2nd Qtr. Total Manufacturing Overhead Cost (per above) $61,760 $69,200 less Depreciation Included in Manufacturing Overhead () ($7,000) ($7,000) Total Cash Payments for Manufacturing Overhead $54,760 $62,200 Check Amounts $54,760 $62,200 3rd Qtr. $72,080 ($7,000) $65,080 $65,080 4th Qtr. $65,840 ($7,000) $58,840 $58,840 ($28,000) Fix the Format of and Restore the Form Calculation of the Predetermined Overhead Rate - for the Finished Goods Ending Inventory Budget Full Year Total Manufacturing Overhead Cost $268,880 divided by Full Year Total Direct Labor Hours 11,480 hrs A equals Predetermined Overhead Rate per Direct Labor Hour (DLH) $23 per DLH Check Amount $23 Inputs (Assumptions) for the Profit Planning Year Jan. 1 to Dec. 31, 2023 MyArmor, Inc. Set Input Values Back to Original Amounts As of Dec. 31 2022 Applies to All Qtrs. Fix the Format of All Yellow Cells Quarter in the 2023 Planning Year 2nd 3rd 1st Quarter of 2024 in 2023 1st 4th 3.000 units Production Budget Finished Units in Inventory - as of 12/31/2022 (the prior year) Forecasted Sales in Units - 1st Quarter of 2024 (next year) % of the Next Qtr.'s Sales in Units to Have in This Qtr.'s Ending Inventory 12,000 units 20% 30% 40% 20% 10 OZ 20% 15,000 oz 130,000 oz Raw Materials Budget Ounces of PlasticSteel Powder (PSP) Required per Finished Unit % of Next Qtr.'s "Ounces of Psp Required" to Have in This atr's Ending Inventory Ounces of Psp in Raw Materials Inventory - as of 12/31/2022 (the prior year}| ) Forecasted 'Ounces of Psp Required" in the 1st Qtr of 2024 (next year) ( Cost of Psp per Ounce Cash Payment Pattern for PsP Purchased in the 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $1.20 per oz $1.20 per oz 40% $1.10 per oz 30% 60% $1.10 per oz Remainder 20% 70% Remainder Remainder 80% Remainder Direct Labor Budget Direct Labor Hours (hrs) per Finished Unit Average cost of a Direct Labor Hour 0.20 hrs $18 per hour $20 per hour $20 per hour $18 per hour Manufacturing Overhead Budget Variable Overhead Cost Rate per Direct Labor Hour (DLH) Total Fixed Manufacturing Overhead Cost per Quarter Depreciation per Quarter Included in Fixed Manufacturing Overhead S6 per DLH $50,000 $7.000 Finished Goods Inventory Budget Direct Labor Budget DirectLabor Hours (hrs) per Finished Unit Average Costofa DirectLabor Hour 0.20 hrs $18 per hour $20 per hour $20 per hour $18 per hour Manufacturing Overhead Budget Variable Overhead CostRate per DirectLabor Hour (DLH) Total Fixed Manufacturing Overhead Costper Quarter Depreciation per Quarter included in Fixed Manufacturing Overhead $6 per DLH $50,000 $7,000 Finished Goods Inventory Budget No Required Input Data Cost of Goods Sold Budget Only Required Input Data is on the Prior Year Balance Sheetbelow $4 per unit $5,000 $40,000 $5,000 $40,000 $15,000 $45,000 $15,000 $50,000 Selling. General, and Administrative (SG&A) Budget Variable SG&A Costper Unit Sold Advertising Fixed Cost Salary Fixed Cost Mall Kiosk Rental Fixed Costper Quarter Utilities Fixed Costper Quarter Property Taxes Depreciation $2,000 $1,000 $0 $12,000 $12,000 $12,000 $0 $13,000 $12,000 $14,000 Cash Budaet Equipment Purchases Dividends Annual InterestRate Charged by the Bank on the Bank Loan $0 $20,000 $0 $20,000 $10,000 $20,000 $15,000 $20,000 6% Income Statement No Required Input Data Prior Year Balance Sheet as of Dec. 31. 2022 Cash Accounts Receivable Raw Material Inventory Finished Goods Inventory Property. Plant& Equipment, gross Accumulated Depreciation Total Assets $24,000 $125,000 $18,000 $60,000 $723,000 ($260,000) $690.000 Accounts Pavable Bank Loar Common Sock Retained Earnings Total Liabilities & Equity $28.000 $60,000 $160,000 $442,000 $690.000 Cost of Goods Sold Budget - for the Profit Planning Year Jan. 1 to Dec. 31, 2023 MyArmor, Inc. Test My Budget Raw Materials Inventory Raw Materials Inventory as of January 1, 2023 plus Total Cost of Psp Purchases for 2023 (from Raw Materials Budget) less Raw Materials Inventory as of December 31, 2023 (from Raw Materials Budget) () equals Cost of Raw Materials Transferred to Work-in-Process Inventory $15,000 668,160 (31,200) $651,960 Work-in-Process Inventory (WIP) $0 651,960 220,400 Work-in-Process Inventory as of January 1, 2023 plus Cost of Raw Materials Transferred to Work-in-Process Inventory plus Total Direct Labor $'s for 2023 (from Direct Labor Budget) plus Total Manufacturing Overhead Cost for 2023 (from Manufacturing Overhead Budget) less Work-in-Process Inventory as of December 31, 2023 () equals Cost of Work-in-Process Transferred to Finished Goods Inventory 268,880 (0) $1,141,240 Finished Goods Inventory and Cost of Goods Sold $60,000 Finished Goods Inventory as of January 1, 2023 plus Cost of Work-in-Process Transferred to Finished Goods Inventory less Finished Goods Inventory as of Dec. 31, 2023 (from Finished Goods Inventory Budget) 1,141,240 (48,480) Cost of Goods Sold $1,152,760 Check Amount $1,155,760 Raw Materials Budget - for the Profit Planning Year Jan. 1 to Dec. 31, 2023 MyArmor, Inc. Test My Budget Full Year Total Finished Units to Produce (from Production Budget) times Ounces of PlasticSteel Powder (PSP) Required per Finished Unit Ounces of Psp Required to produce the Finished Units 1st 9,800 units 10 oz per unit 98,000 oz Quarter in the 2023 Planning Year 2nd 3rd 16,000 units 18,400 units 10 oz per unit 10 oz per unit 160,000 oz 184,000 oz 4th 13,200 units 10 oz per unit 132,000 oz Ounces of PSP Required to produce the Finished Units plus Ounces of PsP Needed in Ending Raw Materials Inventory less Ounces of Psp Available from Beginning Raw Materials Inventory () Total Ounces of Psp to Purchase 98,000 oz 32,000 OZ (15,000) oz 115,000 oz 160,000 oz 36,800 oz (32,000) oz 164,800 oz 184,000 oz 26,400 oz (36,800) oz 173,600 oz 132,000 oz 26,000 oz (26,400) oz 131,600 oz 585,000 oz Total Ounces of Psp to Purchase times Cost of PSP per Ounce Total Cost of Psp Purchases Check Amount 115,000 oz $1.20 per oz $138,000 $ 138,000 164,800 oz $1.10 per oz $181,280 173,600 oz $1.10 per oz $190,960 131,600 oz $1.20 per oz $157,920 Check Amount $668,160 $668,160 3rd Qtr. 4th Qtr. Calculation of Cash Payments for Raw Materials - for the Cash Budget 1st Qtr. 2nd Qtr. Payment of December 31, 2022 Accounts Payable $28,000 Payment of 1st Qtr Psp Purchases $55,200 $41,400 Payment of 2nd Qtr Psp Purchases $108,768 Payment of 3rd Qtr Psp Purchases Partial Payment of 4th Qtr Psp Purchases Total Cash Payments for PSP $83,200 $150,168 Check Amounts $83,200 $150,168 $41,400 $36,256 $133,672 $36,256 $57,288 $126,336 $219,880 $219,880 $211,328 $211,328 Calculation of December 31, 2023 Accounts Payable - for the Balance Sheet 4th Quarter Total Cost of Psp Purchases $157,920 less Partial Payment of 4th Qtr Psp Purchases () ($126,336) Accounts Payable as of December 31, 2023 $31,584 Check Amount $31,584 Calculation of Dec. 31, 2023 Raw Materials Inventory (FIFO) for the Cost of Goods Sold Budget and the Balance Sheet 4th Quarter Ounces of Psp in Ending Raw Materials Inventory 26,000 oz times 4th Quarter Cost of PSP per Ounce $1.20 per oz Raw Materials Inventory as of December 31, 2023 $31,200 Check Amount $31,200 Direct Labor Budget - for the Profit Planning Year Jan. 1 to Dec. 31, 2023 MyArmor, Inc. Test My Budget Full Year Total Finished Units to Produce (from Production Budget) times Direct Labor Hours per Finished Unit equals Total Direct Labor Hours 1st 9,800 units 0.20 hrs 1,960 hrs Quarter in the 2023 Planning Year 2nd 3rd 16,000 units 18,400 units 0.20 hrs 0.20 hrs 3,200 hrs 3,680 hrs 4th 13,200 units 0.20 hrs 2,640 hrs 11,480 hrs Total Direct Labor Hours times Average Cost of a Direct Labor Hour Total Direct Labor $'s Check Amount 1,960 hrs $18 per hr $35,280 $35,280 3,200 hrs $20 per hr $64,000 3,680 hrs $20 per hr $73,600 2,640 hrs $18 per hr $47,520 Check Amount $220,400 $220,400 Fix the Format of All White Cells Cash Payments for Direct Labor - for the Cash Budget 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. * Total Cash Payments for Direct Labor $35,280 $64,000 $73,600 $47,520 * MyArmor pays all direct labor cost in the period incurred; thus Total Cash Payments = Total Direct Labor $'s - Manufacturing Overhead Budget - for the Profit Planning Year Jan. 1 to Dec. 31, 2023 MyArmor, Inc. Test My Budget Full Year Total 11,480 hrs Total Direct Labor Hours (from Direct Labor Budget) times Variable Overhead Cost Rate per Direct Labor Hour (DLH) equals Total Variable Manufacturing Overhead Cost Quarter in the 2023 Planning Year 2nd 3rd 3,200 hrs 3,680 hrs $6 per DLH $6 per DLH $19,200 $22,080 1st 1,960 hrs $6 per DLH $11,760 4th 2,640 hrs $6 per DLH $15,840 plus Total Fixed Manufacturing Overhead Cost Total Manufacturing Overhead Cost Check Amount $50,000 $61,760 $61,760 $50,000 $69,200 $50,000 $72,080 $50,000 $65,840 Check Amount $268,880 $268,880 Full Year Total Calculation of Cash Payments for Manufacturing Overhead - for the Cash Budget 1st Qtr. 2nd Qtr. Total Manufacturing Overhead Cost (per above) $61,760 $69,200 less Depreciation Included in Manufacturing Overhead () ($7,000) ($7,000) Total Cash Payments for Manufacturing Overhead $54,760 $62,200 Check Amounts $54,760 $62,200 3rd Qtr. $72,080 ($7,000) $65,080 $65,080 4th Qtr. $65,840 ($7,000) $58,840 $58,840 ($28,000) Fix the Format of and Restore the Form Calculation of the Predetermined Overhead Rate - for the Finished Goods Ending Inventory Budget Full Year Total Manufacturing Overhead Cost $268,880 divided by Full Year Total Direct Labor Hours 11,480 hrs A equals Predetermined Overhead Rate per Direct Labor Hour (DLH) $23 per DLH Check Amount $23