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Joshua Hill, Bates & Hill Fabricators production manager, has just received the companys sales budget for the first quarter:

He also has received the direct materials purchases budget and direct labor budget which were as follows:

Joshua plans to have 2,632 finished bricks at a cost of $23,030 in inventory at the beginning of the year. The company applies manufacturing overhead based on direct labor hours, and the current predetermined rates are $12 per direct labor hour for fixed manufacturing overhead and $0.70 per direct labor hour for variable manufacturing overhead. Prepare Bates & Hills ending inventory and cost of goods sold budget for the first quarter. Assuming that the company has no beginning and ending WIP inventory. (Round unit cost to 3 decimal places, e.g. 0.533 & all other answers to 0 decimal places, e.g. 5,275.)

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January February March Quarter Budgeted unit sales Budgeted ending inventory Total units required Beginning inventory Budgeted production 9,400 18,330 16,450 44,180 3,666 3,290 2,726 2,726 13,066 |21,620 | 19,176 46,906 2,632 3,666 3,290 2,632 10,434 17,954 15,886 44,274 |A. BINI Its manufacturing overhead budget for the first quarter is as follows: DLH worked VOH per DLH Budgeted VOH Budgeted FOH Total Budgeted MOH Noncash MOH items Depreciation Total Cash MOH cost January February March Quarter 2,609 4,489 3,972 11,070 $0.70 $0.70 $0.70 $0.70 1,826 3,142 2,780 7,748 52,875 52,875 52,875 158,625 54,701 56,017 55,655 166,373 14,100 14,100 14,100 $40,601 $41,917 $41,555 42,300 $124,073

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