Bobs Bistro produces party-sized hoagie sandwiches. For next year, Bobs Bistro predicts that 47,900 units will be produced with the following total costs:Direct materials?Direct labor$73,000Variable overhead29,000Fixed overhead230,000Next year, Bobs Bistro expects to purchase $118,000 of direct materials. Projected beginning and ending inv solutionspile.com

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Bobs Bistro produces party-sized hoagie sandwiches. For next year, Bobs Bistro predicts that 47,900 units will be produced with the following total costs:Direct materials?Direct labor$73,000Variable overhead29,000Fixed overhead230,000Next year, Bobs Bistro expects to purchase $118,000 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows:Direct materialsInventoryWork-in-ProcessInventoryBeginning$4,000$14,300Ending$3,900$16,300Bobs Bistro expects to produce 47,900 units and sell 47,200 units. Beginning inventory of finished goods is $46,500, and ending inventory of finished goods is expected to be $38,000.Required:Question Content Area1. Prepare a statement of cost of goods sold in good form.Bobs BistroStatement of Cost of Goods SoldFor the Coming YearCost of goods available for saleCost of goods manufacturedCost of goods soldEnding finished goodsCost of goods manufactured$Cost of goods manufacturedAdd: Beginning finished goodsAdd: Cost of goods available for saleAdd: Cost of goods soldAdd: Ending finished goodsAdd: Beginning finished goodsAdd: Beginning finished goodsCost of goods available for saleCost of goods manufacturedCost of goods soldEnding finished goodsCost of goods available for sale$Cost of goods available for saleLess: Beginning finished goodsLess: Cost of goods manufacturedLess: Cost of goods soldLess: Ending finished goodsLess: Ending finished goodsLess: Ending finished goodsB solutionspile.com

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Direct materials	?
Direct labor	$73,000
Variable overhead	29,000
Fixed overhead	230,000

	Direct materials Inventory	Work-in-Process Inventory
Beginning	$4,000	$14,300
Ending	$3,900	$16,300

Cost of goods available for saleCost of goods manufacturedCost of goods soldEnding finished goodsCost of goods manufactured	$Cost of goods manufactured
Add: Beginning finished goodsAdd: Cost of goods available for saleAdd: Cost of goods soldAdd: Ending finished goodsAdd: Beginning finished goods	Add: Beginning finished goods
Cost of goods available for saleCost of goods manufacturedCost of goods soldEnding finished goodsCost of goods available for sale	$Cost of goods available for sale
Less: Beginning finished goodsLess: Cost of goods manufacturedLess: Cost of goods soldLess: Ending finished goodsLess: Ending finished goods	Less: Ending finished goods
Beginning finished goodsCost of goods manufacturedCost of goods soldEnding finished goodsCost of goods sold	$Cost of goods sold