Budgeted Income Statement and Supporting Budgets The budget director of Feathered Friends 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 December: e. Anticipated cost of purchases and beginning and ending inventory of drect Wood Plastic $7,00 per ft. f. Direct labor requirements: $1.00 per lb. Bird House: Fabrication Department 0.20hr. at $16 per hr. Assembly Department 0.30hr. at $12 per hr. Bird Feeder: Fabrication Department 0.40hr. at $16 per hr. Assembly Department 0.35hr. at $12 g. Estimated factory overhead costs for December: per hr. Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax h. Estimated operating expenses for December: Sales salaries expense Advertising expense Office salaries expense Depreciation expense-office equipment Telephone expense-selling Telephone expense-administrative h. Estimated operating expenses for December: Sales salaries expense Advertising expense Office salaries expense Depreciation expense-office equipment $70,000 18,000 21,000 600 550 250 4,000 200 400 Telephone expense-selling Telephone expense-administrative Travel expense-selling Office supplies expense Miscellaneous administrative expense i. Estimated other income and expense for December: Interest revenue Interest expense J. Estimated tax rate: 30% Required: 1. Prepare a sales budget for December. 2. Prepare a production budget for December. For those bd hes in which you must enter subtracted or negative numbers use a minus sign. 2. Prepare a production budget for December. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3. Prepare a direct materials purchases budget for December. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 4. Prepare a direct labor cost budget for December. 5. Prepare a factory overhead cost buidget for December. 7. Prepare a selling and administrative expenses budget for December. 3. Prepare a budgeted income statement for December, In the Other revenue and expense section, indicate expenses as negative amounts