2. Prepare a production budget for January. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3. Prepare a direct materials purchases budget for January. For those boxes in which you must enter subtracted or negative numbers use minus sign. Budgeted Income Statement and Supporting Budgets The budget director of Birding Homes \& Feeders Inc, with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the budgeted income statement for January: 3. Prepare a direct materials purchases budget for lanuary. For those boxes in which you must enter subtracted or negative numbers use minus sign. 4. Prepare a direct labor cost budget for January. Required: 1. Prepare a sales budget for January. 2. Prepare a production budget for January. For those boxes in which you must enter subtracted or negative numbers use a minus 4. Prepare a direct labor cost budget for January. 5. Prepare a factory overhead cost budget for January. 7. Prepare a selling and administrative expenses budget for January. 7. Prepare a selling and administrative expenses budget for January. 8. Prepare a budgeted income statement for January. In the Other revenue and expense section, indicate expenses as negative amounts 8. Prepare a budgeted income statement for January. In the Other revenue and expense section, indicate expenses as negative amounts. Birding Homes \& Feeders Inc. Budgeted Income Statement For the Month Ending January 31 Operating expenses: Total operating expenses Operating income 35 Other revenue and expense: Income before income tax $ $ Total operating expens Income before income tax $ 55 5. Prepare a factory overhead cost budget for January. 6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January is estimated to be $9,000, and work in proce at the end of January is estimated to be $10,500. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Fabrication Department Assembly Department Bird Feeder: Fabrication Department Assembly Department 9. Estimated factory overhead costs for January: Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax h. Estimated operating expenses for January: Sales salaries expense Advertising expense Office salaries expense Depreciation expense-office equipment Travel expense-selling Office supplies expense Miscellaneous administrative expense 0.40hr. at $18 per hr: 0.20hr, at $12 per hr. 0.25hr. at $18 per hr. 0.10hr. at $12 per hr. $40,00020,00010,0005,000 $125,000 80,000 40,000 4,000 25,000 2,500 3,500 Finished products: Bird house 1,500 units at $15 per unit Bird feeder 3,000 units at $8 per unit d. Direct materials used in production: In manufacture of Bird House: Wood 0.80ft. per unit of product Plastic 0.10lb, per unit of product In manufacture of Bird Feeder: Wood 0.20ft. per unit of product Plastic 1.00lb. per unit of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Wood $2.50 per ft. Plastic $0.80 per lb. f. Direct labor requirements: Bird House: Fabrication Department 0.40hr. at $18