Budgeted Income Statement and Supporting Budgets The budget director of Gold Medal Athletic Co, with the assistance of the controller, treasures, production manage and les manager, has gathered the following data for use in developing the budgeted Income statement for March a. Estimated sales for March Batting helmet 1.200 units at $40 per unit Football hemet 6,500 units at $100 per unit b. Estimated Inventories at March 1: Direct materials Plastic 90 lbs Foamn lining Bob Finished products: 40 units at $25 Batting helmet per unit 240 units at 577 Football helmet Der unit c. Desired Inventories at March 31: Direct materiale: Plastic 50 lbs Foam lining Finished products 50 units at $25 Batting helmet per unit 220 unitat 570 220 units at $78 Football helmet per unit d. Direct materials used in production: In manufacture of batting helmet: Plastic 1.2 lbs. per unit of product 0.5 lb. per unit of product Foam lining In manufacture of football helmet: 3.5 lbs. per unit Plastic of product 1.5 lbs. per unit Foam lining of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic $6 per Ib. Foam lining $4 per lb. f. Direct labor requirements: Batting helmet: Molding Department 0.2 hr. at $20 per hr. Assembly Department 0.5 hr, at $14 per hr. Football helmet: Moldinn Denartment 0.5 hr, at $20 per 0.5 hr. at $20 per Molding Department hr. 1.8 hrs. at $14 Assembly Department per hr. $86,000 12,000 4,000 g. Estimated factory overhead costs for March: Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax h. Estimated operating expenses for March: Sales salaries expense Advertising expense 2,300 $184,300 87,200 Office salaries expense 32,400 3,800 5,800 Depreciation expense-office equipment Telephone expense-selling Telephone expense-administrative Travel expense-selling 1,200 9,000 1,100 Office supplies expense Miscellaneous administrative expense i. Estimated other revenue and expense for March: Interest revenue 1,000 $940 Interest expense 1. Estimated tax rate: 30% 872 Required: 1. Prepare a sales budget for March. Enter all amounts as positive numbers. Gold Medal Athletic Co. Sales Budget For the Month Ending March 31 Unit Sales Volume Unit Selling Price Total Sales Batting helmet Football helmet Total revenue from sales