7. Prepare a selling and administrative expenses budget for January. 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: a. Estimated sales for January: Bird house 15,000 units at $25 per unit Bird feeder 40,000 units at $15 per unit b. Estimated inventories at January 1: Direct materials: Wood 600ft. Plastic 1,000 lbs. Finished products: Bird house 1,000 units at $15 per unit Bird feeder 2,500 units at $8 per unit c. Desired inventories at January 31 : Direct materials: Wood 500ft. Plastic 1,250 lbs. Finished products: Bird house 1,500 units at $15 per unit Bird feeder 3,000 units at 58 per unit 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. For those boxes in which you must anter subtracted or negative numbers use a minus sign. Birding Homes \& Feeders Inc. Direct Materials Purchases Budget For the Month Ending January 31 4. Prepare a direct labor cost budget for zanuary. Birding Homes \& Feeders Inc. Direct Labor Cost Budget For the Month Ending January 31 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 Other revenue and expense: Income before income tax Net income h. Estimated operating expenses for January: 1. Estimated other revenue and expense for January: 1. Estimated tax rate: 25% Required: 1. Prepare a sales budget for January. Birding Homes \& Feeders Inc. Direct Labor Cost Budget For the Month Ending January 31 5. Prepare a factory overhead cost 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 sign. 3. Prepare a diroct materials purchases budget for January. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 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 per hr. Assembly Department 0.20hr. at $12 per hr. Bird Feeder: Fabrication Department 0.25hr. at $18 per hr. Assembly Department 0.10hr. at $12 per hr. g. Estimated factory overhead costs for January