Question - The controller of Moravian Ceramics Inc. wishes to prepare a Cost of Goods Sold Budget for April. The controller assembled the following info. For constructing the Cost of Goods Sold Budget:
Direct Materials: Enamel Paint Porcelain Total
Total DM Purchases Budgeted for April $32,450 $4,730 $114,240 $151,420
Estimated Inventory, April 1, 2008 1,150 2,800 4,330 8,280
Desired Inventory, April 30, 2008 2,500 2,050 6,000 10,550
Direct Labor Cost: Kiln Dept. Deco. Dept. Total
Total DL Cost Budgeted for April $37,500 $134,400 $171,900
Finished Goods Inventories: Dish Bowl Figurine Total
Est. Inventory, April 1, 2008 $4,280 $2,970 $2,470 $9,720
Desired Inventory, April 30, 2008 3,350 4,150 3,700 11,200
Work In Progress Inventories:
Est. Inventory, April 1, 2008 $2,800
Desired Inventory, April 30, 2008 1,750
Budgeted Factory Overhead Costs for April:
Indirect Factory Wages $55,500
Depreciation of Plant &Equipment 12,600
Power &Light 4,900
Indirect Materials 3,700
Total $76,700
Use the preceding info. to prepare a Cost Of Goods Sold Budget for April 2008.