Comprehensive Problem $5$

Part B:

January direct materials, direct labor, and factory overhead costs are as follows:

DIRECT MATERIALS

DIRECT LABOR

FACTORY OVERHEAD Part B$-$August Budgets

follows:

Finished Goods Inventory:

Materials Inventory:

Required:

Prepare the August production budget.

Genuine Spice Inc.

Production Budget

For the Month Ended August $31$ Prepare the August direct materials purchases budget. Enter the unit price to the nearest cent.

Genuine Spice Inc.

Direct Materials Purchases Budget

For the Month Ended August $31$

Prepare the August direct labor cost budget. For hours required, round to nearest whole hour. For hourly rate, enter to the nearest cent, if required.

Genuine Spice Inc.

Direct Labor Cost Budget

For the Month Ended August $31$

Prepare the August factory overhead cost budget. If an amount box does not require an entry, leave it blank.

Genuine Spice Inc.

Factory Overhead Cost Budget

For the Month Ended August $31$

Factory overhead:

$

$

Total Prepare the August budgeted income statement, including selling expenses.

Genuine Spice Inc.

Budgeted Income Statement

For the Month Ended August $31$