Budgeted income statement and supporting budgetsThe budget director of Gold Medal Athletic Co$.,$ 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 March:a$.$ Estimated sales for March: Batting helmet $1,200$ units at $$40$ per unit Football helmet $6,500$ units at $$160$ per unitb. Estimated inventories at March $1$:Direct materials: Plastic $90$ lbs$.$ Foam lining $80$ lbs$.$Finished products: Batting helmet $40$ units at $$25$ per unit Football helmet $240$ units at $$77$ per unitc. Desired inventories at March $31$:Direct materials: Plastic $50$ lbs$.$ Foam lining $65$ lbs$.$Finished products: Batting helmet $50$ units at $$25$ per unit Football helmet $220$ units at $$78$ per unitd. Direct materials used in production:In manufacture of batting helmet: Plastic $1\mathrm{.}2$ lbs$.$ per unit of product Foam lining $0\mathrm{.}5$ lb$.$ per unit of productIn manufacture of football helmet: Plastic $3\mathrm{.}5$ lbs$.$ per unit of product Foam lining $1\mathrm{.}5$ lbs$.$ per unit of producte. Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic $$6$ per lb$.$ Foam lining $$4$ per lb$.$f$.$ Direct labor requirements:Batting helmet: Molding Department $0\mathrm{.}2$ hr$.$ at $$20$ per hr$.$ Assembly Department $0\mathrm{.}5$ hr$.$ at $$14$ per hr$.$Football helmet: Molding Department $0\mathrm{.}5$ hr$.$ at $$20$ per hr$.$ Assembly Department $1\mathrm{.}8$ hrs$.$ at $$14$ per hr$.$g$.$ Estimated factory overhead costs for March:Line Item DescriptionAmountIndirect factory wages$$86,000$Depreciation of plant and equipment$12,000$Power and light$4,000$Insurance and property tax$2,300$h$.$ Estimated operating expenses for March:Line Item DescriptionAmountSales salaries expense$$184,300$Advertising expense$87,200$Office salaries expense$32,400$Depreciation expenseoffice equipment$3,800$Telephone expenseselling$5,800$Telephone expenseadministrative$1,200$Travel expenseselling$9,000$Office supplies expense$1,100$Miscellaneous administrative expense$1,000$i$.$ Estimated other revenue and expense for March:Line Item DescriptionAmountInterest revenue$$940$Interest expense$872$j$.$ Estimated tax rate: $30\%$Prepare a cost of joods sold budget for March. Work in process at the beginning of March is estimated to be $$15,300,$ and work in process at the end of March is desired to be $$14,800.$ For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Gold Medal Athletic Co$.$

Cost of Goods Sold Budget

For the Month Ending March $31$

Direct materials:

Cost of direct materials available for use

Cost of direct materials placed in production

Total manufacturing costs

Total wotk in process during beriod

Cost of goods manufactured

Cost of finished goods available for sale

Cost of goods sold