Daybook inc. budgeted production of 403,500 personal journals in 20y6. paper is required to produce a journal. assume six square yards of paper are required for each journal. the estimated january 1, 20y6, paper inventory is 40,400 square yards. the desired december 31, 20y6, paper inventory is 38,900 square yards. paper costs $0.40 per square yard. each journal requires assembly. assume that eight minutes are required to assemble each journal. assembly labor costs $13.00 per hour. prepare a cost of goods sold budget for daybook inc. using the information above. assume the estimated inventories on january 1, 20y6, for finished goods and work in process were $28,000 and $16,500, respectively. also assume the desired inventories on december 31, 20y6, for finished goods and work in process were $30,000 and $14,300, respectively. factory overhead was budgeted at $214,600. round your interim calculations to nearest cent, if required.