Budgeted Inoome 5tatement and Suegerting Buebgets: statemant for lenivaryi a. Estimated saies for jmeuary: Find house Givd feeser 15,000 uits at 525 per init 40,000 units at: 515 per unat b. Estimated imemonies at lanuary 11 Direst materials: Wisisd cggf. navic t,e00 b4. Firishe eroductir: 1,600 untes at furd heint Itsper int 2. seg unis at in Wra teeser Der unit 5. Deured imeicones of danuars 31 ! tyiet mateind d. Direct materials used in production: In manufacture of Bird House: 0.80 ft. per unit Wood of product 0.10lb. per unit Plastic of product In manufacture of Bird Feeder: 0.20ft. per unit Wood of product 1.00lb. per unit Plastic of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Wood $2.50 per ft. Plastic $0.80 per lb. f. Direct labor requirements: Bird House: 0.40 hr. at $18 Fabrication Department per hr. 0.20hr, at $12 Assembly Department per hr. Bird Feeder: 0.25hr at $18 Fabrication Department per hr. 0.10hr, at $12 Assembly Department per hr. 9. Estimated factory overhead costs for January: Indirect factory wages $40,000 Depreciation of plant and equipment Power and light Insurance and property tax 20,00010,0005,000 h. Estimated operating expenses for January: Sales salaries expense $125,000 Advertising expense 80,000 Office salaries expense 40,000 Depreciation expense-office equipment 4,000 Travel expense-selling 25,000 Office supplies expense 2,500 Miscellaneous administrative expense 3,500 1. Estimated other revenue and expense for January: Interest revenue Interest expense 1. Estimated tax rate: 25% 2. Prepare a production budget for January. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3. Prepare a direct materials purchases budget for January. For those boxes in which you must ent Birding Homes \& Feeders Inc. Direct Materials Purchases Budget For the Month Ending January 31 3. Prepare a direct materials purchases budget for January. For those boxes in which you must enter subtracted or negative numbers use 4. Prepare a direct labor cost budget for January. 5. Prepare a factory overhead cost budget for January. 0 more Check My Work uses remaining. tich you must enter subtracted or negative numbers use a minus sign. Birding Homes 8. Feeders Inc. Cost of Goods Sold Budget For the Month Ending January 31 Finished goods inventory. January 1 Work in process inventory, January 1 Direct materials: Direct materials purchases 84 Cost of direct materials placed in production 584,890 Yotal manufacturing costs Total work in process during period Wotk in orocess inventory, lanuary 3110,500 Cost of goods manufactured Cost of finished goods avaliabie for sale Finished goods invehtory, damuary 31 . Cost of goods sold Birding Homes \& Feeders Inc. Cost of Goods Sold Budget For the Month Ending January 31 Finished goods inventory, January 1 Work in process inventorv, January 15$9,000 Direct materials: Direct materials inventory, January 1$2,300 Direct materials purchases Cost of direct materials avallable for use $87,140 Direct materials inventorv, January 31.2,250 Cost of direct materials placed in production 5$84,890 \begin{tabular}{lr} Direct labor & 379,650 \\ Factorv overhead & 75,000 \\ \hline \end{tabular} Total manufacturing costs Total work in process during period \( 5 \$ \longdiv { 5 4 8 , 5 4 0 } \vee \) Work in process inventory, lanuary 31:v 10,500 Cost of goods manufactured Cost of finished goods avallable for sale Finished ooods inventory, January 31 . v 7. Prepare a selling and administrative expenses budget for January. 8. Prepare a budgeted income statement for January. In the Other revenue and expense section, Indicate expenses as nec 8. Prepare a budgeted income statement for January. In the Other revenue and expense section, indicate expenses as negative amounts