Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a. Euimated saies for Januar?. 13,000 unti at Bid house tht per unit 40,000 units at nird feeder 315 per unit b. Estimated inventories at

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
a. Euimated saies for Januar?. 13,000 unti at Bid house tht per unit 40,000 units at nird feeder 315 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 $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: 0.40hr. at $18 Fabrication Department perhr. 0.20hr, at $12 Assembly Department per hr. Bird Feeder: 0.25hr, at $18 Fabrication Department per hr. 0.10hr. at $12 Assembly Department per hr. 9. Estimated factory overhead costs for January: Indirect factory wages $40,000 Depreciation of plant and equipment 20,000 Power and light 10,000 Insurance and property tax 5,000 Sales salaries expense $125,000 Advertising expense 80,000 Office salaries expense 40,000 Depreciation expense-office equipment 4,000 Travel expense-selling 25,000 Office supplies expense 2,500 Miscellaneous administrative expense 3,500 i. Estimated other revenue and expense for January: Interest revenue $4,540 Interest expense j. Estimated tax rate: 25% 1. Prepare a sales budget for January. 2. Prepare a production budoet for January. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3. Prepare a drect materiats purchases bodoet for lanoary. For those boxes in which wou must enter subtracted or nogative numbers use a minus sign. Birding Homes \& Feeders Inc. Direct Materials Purchases Budget For the Month Ending January 31 Required units for production: Bird house Bird feeder Desired units of inventory, January 31 Tatal units wallable Ertimated units of inventorf, January 1 Total units to be purchased Unit price Total direct materals to be porchased 5. Prepare a factore oreptead coit budqet for January. thatracied or lieda ye notiters uis a minut ver. 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sm Auditing Integrated Appr Review Copy

Authors: ARENS LO, EBBECKE

7th Edition

0135914396, 978-0135914397

More Books

Students also viewed these Accounting questions