6. Prepare a cost of goods sold budget for January: Work in process at the beginaing of January is estimated to be $33,600, and work in process at the end of January is estimated to be 541,200 . 7. Prepare a selling and administrative expenses budget for January. Birds and Beyond Inc. Budgeted Income Statement For the Month Ending January 31 Operating expenses: Total operating expenses Other revenue: Other expenses: In manufacture of BirdHouse: Wood 0.80ft. per unit of product Plastic 0.50lb. per unit of product In manufacture of Bird Feeder: Wood 1.20ft. per unit of product Plastic 0.75lb. per unit of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Wood $9.00 per ft. Plastic $1.40 per lb. f. Direct labor requirements: Birdhouse: Fabrication Department 0.25hr. at $20 per hr. Assembly Department 0.30hr. at $15 per hr. Bird Feeder: Fabrication Department 0.40hr. at $20 per hr. Assembly Department 0.35hr. at $15perhr. g. Estimated factory overhead costs for January: Indirect factory wages $92,000 Depreciation of plant and equipment 34,000 Power and light 10,100 Insurance and property tax 2,800 Insurance and property tax 2,800 h. Estimated operating expenses for January: Sales salaries expense $85,100 Advertising expense 17,600 Office salaries expense 19,200 Depreciation expense-office equipment 1,100 Telephone expense-selling 1,000 Telephone expense-administrative 400 Travel expense-selling 3,800 Office supplies expense 350 Miscellaneous administrative expense 250 i. Estimated other income and expense for January: Interest revenue $450 Interest expense 294 j. Estimated tax rate: 25% Required: 1. Prepare a sales budget for January. Birds and Beyond Inc. Sales Budget 4. Prepare a direct labor cost budget for January. 8. Prepare a budgeted income statement for January. 5. Prepare a factory overhead cost budget for January. For the Month Endina Januarv 31 2. Prepare a production budget for January. The budget director of Birds and Beyond Inc, with the assistance of the contraller, treasurer, production manager, and sales manager, has gathesed the following data for use in developing the budgefed income statement for January? c. Desired inventorles at January 38 : Direct materiak: \begin{tabular}{ll} Wood & 220ft. \\ Plastic & 340fb. \end{tabular} Finished products: Birdhouse: 400 units at $28 per unit. Biro feeder 250 units at $40 per unit. d. Direct materials used in production