Question - A Company budgets the following:
Total direct materials placed into production $135,210
Total direct labor cost 241,440
Assume the estimated inventories on January 1, 2017, for finished goods and work in process were $14,490 and $4,830, respectively. Also assume the desired inventories on December 31, 2017, for finished goods and work in process were $8,210 and $5,550, respectively. Factory overhead was budgeted at $132,790.
How much is budgeted cost of goods sold for 2017?