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Suppose that the fabric plant has 500 bolts of FB70 in beginning finished goods inventory The current-year plan is to have 1,000 bolts of FB 70 in...

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7. Suppose that the fabric plant has 500 bolts of F B TO in beginning finished goods inventory .
The current - year plan is to have 1. OOD bolts of FB TO in finished goods inventory at the end of*
the year . This fabric has an external market price of $400 per bolt . If the fabric plant is set up
as a profit center , it could sell 3. 000 bolts per year to outside customers and supply 2, 000
bolts per year internally to Metcalf's Furniture plant . If the fabric plant were designated as a
profit center , the plant would transfer all goods internally at market price . Using the proposed
standard cost sheet ( as needed ) and any other relevant data . prepare the following for Fabric
a. Sales budget
6 . Production budget
C . Direct labor budget
J . Cost of goods sold budget

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