Budgeted income statement and supporting budgets for three months Bellaire Inc. gathered the following data for...

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Budgeted income statement and supporting budgets for three months Bellaire Inc. gathered the following data for use in developing the budgets for the first quarter (January, February, March) of its fiscal year: a. Estimated sales at $125 per unit: January 25,000 units February 30,000 units March 45,000 units April 50,000 units b. Estimated finished goods inventories: January 1 2,000 units January 31 10% of next month's sales February 28 10% of next month's sales March 31 10% of next month's sales c. Work in process inventories are estimated to be insignificant (zero). d. Estimated direct materials inventories: January 1 1,000 lbs. January 31 1,500 lbs. February 28 2,000 lbs. March 31 2,500 lbs. e. Manufacturing costs: Direct materials (0.8 lb. per unit x $15 per lb.) Direct labor (2.5 hrs. per unit x $24 per hr.) Variable factory overhead ($1.20 per direct labor hour) Fixed factory overhead ($200,000 per month, allocated using 40,000 units) Total per-unit manufacturing costs Per Unit $ 12 60 3 5 $80 Budgeted income statement and supporting budgets for three months Bellaire Inc. gathered the following data for use in developing the budgets for the first quarter (January, February, March) of its fiscal year: a. Estimated sales at $125 per unit: January 25,000 units February 30,000 units March 45,000 units April 50,000 units b. Estimated finished goods inventories: January 1 2,000 units January 31 10% of next month's sales February 28 10% of next month's sales March 31 10% of next month's sales c. Work in process inventories are estimated to be insignificant (zero). d. Estimated direct materials inventories: January 1 1,000 lbs. January 31 1,500 lbs. February 28 2,000 lbs. March 31 2,500 lbs. e. Manufacturing costs: Direct materials (0.8 lb. per unit x $15 per lb.) Direct labor (2.5 hrs. per unit x $24 per hr.) Variable factory overhead ($1.20 per direct labor hour) Fixed factory overhead ($200,000 per month, allocated using 40,000 units) Total per-unit manufacturing costs Per Unit $ 12 60 3 5 $80