Problem $23\mathrm{.}2$A $($Static$)$ Short Budgeting Problem $($LO$23-4,$ LO$23-5)$

Nevis Corporation manufactures and sells a single product. In preparing the budget for the first quarter, the company$$s cost accountant has assembled the following information.

Units Dollars

Sales $($budgeted$)160,000$ $ $6,400,000$

Finished goods inventory, January $1($actual$)20,000500,000$

Finished goods inventory, March $31($budgeted$)32,000?$

Cost of finished goods manufactured $($budgeted manufacturing costs are $$30$ per unit$)??$

The company uses the first$-$in$,$ first$-$out method to report its inventory of finished goods.

Required:

a$.$ Compute the planned production of finished goods $($in units$).$

b$.$ Compute the cost of finished goods manufactured.

c$.$ Compute the finished goods inventory, March $31.$

d$.$ Compute the cost of goods sold.