Budgeted income statement and supporting budgets The budget director of Jupiter Helmets 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 May: Estimated sales for May: Bicycle helmet 9,000 units at $25 per unit Motorcycle helmet 6,000 units at $180 per unit Estimated inventories as of May 1: Direct materials: Finished products: Plastic 1,480 lbs. Bicycle helmet 200 units at $15 per unit Foam lining 520 lbs. Motorcycle helmet 100 units at $90 per unit Desired inventories as of May 31: Direct materials: Finished products: Plastic 2,000 lbs. Bicycle helmet 400 units at $15 per unit Foam lining 800 lbs. Motorcycle helmet 300 units at $100 per unit Direct materials used in production: In manufacture of bicycle helmet: Plastic 0.90 lb. per unit of product Foam lining 0.20 lb. per unit of product In manufacture of motorcycle helmet: Plastic 3.50 lbs. per unit of product Foam lining 1.40 lbs. per unit of product Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic $4.40 per lb. Foam lining $0.90 per lb. Direct labor requirements: Bicycle helmet: Molding Department 0.30 hr. at $15 per hr. Assembly Department 0.10 hr. at $14 per hr. Motorcycle helmet: Molding Department 0.50 hr. at $15 per hr. Assembly Department 0.40 hr. at $14 per hr. Estimated factory overhead costs for May: Indirect factory wages $125,000 Power and light $23,000 Depreciation of plant and equipment 45,000 Insurance and property tax 11,000 Estimated operating expenses for May: Sales salaries expense $175,000 Advertising expense 120,000 Office salaries expense 92,000 Depreciation expense office equipment 6,000 Miscellaneous expense selling 5,000 Utilities expense administrative 3,000 Travel expense selling 50,000 Office supplies expense 2,500 Miscellaneous administrative expense 1,500 Estimated other income and expense for May: Interest revenue $14,560 Interest expense 3,000 Estimated tax rate: 25% Instructions 1. Prepare a sales budget for May. 2. Prepare a production budget for May. 3. Prepare a direct materials purchases budget for May. 4. Prepare a direct labor cost budget for May. 5. Prepare a factory overhead cost budget for May. 6. Prepare a cost of goods sold budget for May. Work in process at the beginning of May is estimated to be $4200, and work in process at the end of May is desired to be $3,800. 7. Prepare a selling and administrative expenses budget for May. 8. Prepare a budgeted income statement for May.

This is what I have so far, based on a template that I found here and re-created. I do not know how to get the amounts where the question marks are, and of course, what I have may be full of errors. There are no tutors available through my school, and I can't afford a traditional one, so hopefully someone here will fill in the blanks and explain at least some of it, so that I may understand:

Jupiter Helmets
1. Sales budget
For May
		Unit Sales Volume		Unit Selling Price		Total Sales
Bicycle helmet		9000		25		225000
Motorcycle helmet		6000		180		1080000
Total revenue from sales						1305000
Jupiter Helmets
2. Production budget
For May
				Units
				Bicycle helmet		Motorcycle helmet
Expected units to be sold				9000		6000
Plus desired inventory, May 31, 2016				400		300
Total				9400		6300
Less estimated inventory, May 1, 2016				200		100
Total units to be produced				9200		6200
Jupiter Helmets
3. Direct materials purchases budget
For the month ending May 31, 2016
				Foam lining		Plastic		Total
Units required for production
Bicycle helmet				?		?
Motorcycle helmet				?		?
Plus desired units of inventory, May 31, 2016				800 lbs.		2000 lbs.
Total				?		?
Less estimated units of inventory, May 1, 2016				520 lbs.		1480 lbs.
Total units to be purchased				?		?
Unit price				x $.90 per lb.		x $4.40 per lb.
Total direct materials to be purchased				?		?		?
Jupiter Helmets
4. Direct labor cost budget
For the month ending May 31, 2016
			Assembly department		Molding department		Total
Hours required for production
Bicycle helmet			?		?
Motorcycle helmet			?		?
Total			?		?
Hourly rate			x $14		x $15
Total direct labor cost			?		?		?
? X .? Hr
? X .? Hr
? X .? Hr
? X .? Hr
Jupiter Helmets
5. Factory overhead cost budget
For the month ending May 31, 2016
Indirect factory wages				$125,000
Depreciation of plant and equipment				45,000
Power and light				23,000
Insurance and property tax				11,000
Total				204,000
Jupiter Helmets
6. Cost of good sold budget
For the month ending May 31, 2016
Finished goods inventory, May 1, 2016						?
Work in process, May 1, 2016					?
Direct materials:
Direct materials inventory, May 1, 2016				?
Direct materials purchases				?
Cost of direct materials available for use				?
Less direct materials inventory, May 31, 2016				?
Cost of direct materials placed in production				?
Direct labor				?
Factory overhead				?
Total manufacturing costs					?
Total work in process during period					?
Less work in process, May 31, 2016					?
Cost of goods manufactured						?
Cost of finished goods available for sale						?
Less finished goods inventory, May 31, 2016						?
Cost of goods sold						?
Bicycle helmet (? X ?)					?
Motorcycle helmet (? X ?)					?
Finished goods inventory, May 1, 2016					?
Foam lining (? X ?)					?
Plastic (? X ?)					?
Direct materials inventory, May 1, 2016					?
Foam lining (? X ?)					?
Plastic (? X ?)					?
Direct materials inventory, May 31, 2016					?
Bicycle helmet (? X ?)					?
Motorcycle helmet (? X ?)					?
Finished goods inventory, May 31, 2016					?
Jupiter Helmets
7. Selling and administrative expenses budget
For the month ending May 31, 2016
Selling expenses:
Sales salaries expense					$175,000
Advertising expense					120,000
Miscellaneous expense - selling					5,000
Travel expense - selling					50,000
Total selling expenses						350,000
Administrative expenses:
Office salaries expense					92,000
Depreciation expense - office equipment					6,000
Utilities expense - administrative					3,000
Office supplies expense					2,500
Miscellaneous administrative expense					1,500
Total administrative expenses						105,000
Total operating expenses						455,000
Jupiter Helmets
8. Budgeted income statement
For the month ending May 31, 2016
Revenue from sales						?
Cost of goods sold						?
Gross profit						?
Operating expenses:
Selling expenses					350,000
Administrative expenses					105,000
Total operating expenses						455,000
Income from operations						?
Other income:
Interest revenue					14,560
Other expenses:
Interest expense					3,000	11560
Income before income tax						466560?
Income tax expense (25%)						116640?
Net income						349920?