Budgeted Income Statement and Supporting Budgets The budget director of Birds and Beyond in with the assistance of the controller, treasures production maaper and sales manager, thered the following data for use in developing the budgeted content For January Estimated sales for January 7,500 units at 566 perunt Bedfeeder 5,000 units at 582 per unit h Estimated entenes at January 11 Direct materials Wood 198 Plast 420 lb Finished products Bedhouse 500 units at $25 per unit Bird feeder 210 units at 540 perunt Dured inventories at January 31 Direct materials Wood 2201 Plastic 340 ib. Finished prodotti Birdhouse 400 unts at 320 perunt Bird feeder 250 units at $40 per unit d. Direct materials used in production In manufacture of Brd House Wood 0.80 ft per unit of product Plante 0.50 lb, per unit of produd In manufacture of Bird Feeder Wood 120 M. per unit of product Plastic 0.75 lb, per unit of product Artiopated cost of purchases beginning ending inventory of directa Wood 39.00 per 5145 $92,000 34,000 10,100 2,800 f. Direct labor requirements: Birdhouse: Fabrication Department 0.25 hr. at $20 per hr. Assembly Department 0.30 hr. at $15 per hr. Bird Feeder: Fabrication Department 0.40 hr. at $20 per hr. Assembly Department 0.35 hr, at $15 per hr. g. Estimated factory overhead costs for January: Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax h. Estimated operating expenses for January: Sales salaries expense Advertising expense Office salaries expense Depreciation expense-office equipment Telephone expense-selling Telephone expense-administrative Travel expense-selling Office supplies expense Miscellaneous administrative expense i. Estimated other income and expense for January: Interest revenue $85,100 17,600 19,200 1,100 1,000 400 3,800 350 250 $450 294 Interest expense j. Estimated tax rate: 25% n/takeAssignment/take Assignment Main.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Required: 1. Prepare a sales budget for January. Birds and Beyond Inc. Sales Budget For the Month Ending January 31 Unit Sales Unit Selling Volume Price Total Sales Birdhouse Bird feeder Total revenue from sales 2. Prepare a production budget for January. Birds and Beyond Inc. Production Budget For the Month Ending January 31 Units Birdhouse Bird Feeder Expected units to be sold Plus desired inventory, January 31 Total units required Less estimated inventory, January 1 Total units to be produced 3. Prepare a direct materials purchases budget for January. Round your unit nrire answer to turn 3. Prepare a direct materials purchases budget for January. Round your unit price answers to two decimal places. Birds and Beyond Inc. Direct Materials Purchases Budget For the Month Ending January 31 Wood Plastic Total Required units for production: Birdhouse Bird feeder Plus desired units of inventory, January 31 Total units required Less estimated units of inventory, January 1 Total units to be purchased Unit price Total direct materials to be purchased 4. Prepare a direct labor cost budget for January. Birds and Beyond Inc. Direct Labor Cost Budget For the Month Ending January 31 Fabrication Assembly Department Department Total Hours required for production: Birdhouse Bird feeder Total hours required Hourly rate $ Total direct labor cost UR 5. Prepare a factory overhead cost budget for January, Birds and Beyond Inc. Factory Overhead Cost Budget For the Month Ending January 31 Indirect factory wages 5 Depreciation of plant and equipment Power and light Insurance and property tax Total 6. Prepare a cost of goods sold budget for January work in process at the beginning of January is estimated to be 533,600, and work in pescess at the end of January is estimated to be 541,200. Birds and Beyond Inc. Cost of Goods Sold Budget for the Month Ending January 31 Direct materials Cost of direct materials able for use Coat of direct materials paced in production Total manufacturing couts Total work in process during the period Cost of goods manufactured Cost of the goods avelable for sale Cost of goods sold 7. Prepare a selling and administrative expenses budget for January Birds and Beyond Inc. Selling and Administrative Expenses Budget For the Month Ending January 31 Selling expenses: Sales salaries expense Advertising expense Telephone expense-selling Travel expense-selling Total selling expenses Administrative expenses: Office salaries expense Depreciation expense-office equipment Telephone expense-administrative Office supplies expense Miscellaneous administrative expense Total administrative expenses Total Operating expenses 8. Prepare a budgeted income statement for January 8. Prepare a budgeted income statement for January. Birds and Beyond Inc. Budgeted Income Statement For the Month Ending January 31 Operating expenses: Total operating expenses Other revenue: Other expenses