4. Total difect labor costin Fabrication Depts, 4293850 FR 22-3n budouted incone etetement and seppering budgete The budget director of Birding Homes a Feeders lace, with the assistance of the controller, treacurer, production manager, and sales manager, has gathered the following data for use in developing the budgeted income atatement for January? a. Estimated sales for January Fird house Bird feeder. b. Estimated inventories at January It Direct materials: Wood Phastic......*+ 1,000lbs c. Desired inventories at January 31. Direct materials: Wood Plastic Finished peoducts: Bird house. Bird feeder. 1,000 units at $15 per unit 2,500 units at $8 per unit Finished products: Bird house ....... 1,500 units at $15 per unit Bird feeder. 15000 units at $25 per unit 40,000 units at $15 per unit i. Estimated other revenue and expense for January: j. Estimated tax rate: 25% Instructions 1. Prepare a sales budget for January. 2. Prepare a production budget for January. 3. Prepare a direct materials purchases budget for January. 4. Prepare a direct labor cost budget for January. 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 process at the end of January is estimated to be $10,500. 7. Prepare a selling and administrative expenses budget for January: 8. Prepare a budgeted income statement for January