Cost of goods sold budget. work in process at the beginning of march js estimated to be $11,000, and work in process at the ending of march is $12,500.

The budget director of Athletic Supplies Inc., 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 1,100 units at $42 per unit Football helmet 6,400 units at $146 per unit b. Estimated inventories at March 1: Direct materials: Plastic 55 lbs. Foam lining 65 lbs. Finished products: Batting helmet 75 units at $28 per unit Football helmet 220 units at $75 per unit C. IDesired inventories at March 31: Direct materials: Plastic 70 lbs. Foam lining 74 lbs. Finished products: Batting helmet 50 units at $27 per unit Football helmet 225 units at $72 per unit d. Direct materials used in production: In manufacture of batting helmet: Plastic 1.5 lbs. per unit of product Foam lining 0.75 lb. per unit of product In manufacture of football helmet: Plastic 3.5 lbs. per unit of product Foam lining 1.75 lbs. per unit of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic $5.4 per lb. Foam lining $3.6 per lb. f. Direct labor requirements: Batting helmet: Molding Department 0.3 hr. at $21 per hr Assembly Department 0.6 hr. at $15 per hr Football helmet: Molding Department 0.8 hr. at $21 per hr. Assembly Department 1.6 hrs. at $15 per hr. $75,000 14,000 3,000 3,700 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 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 March: Interest revenue Interest expense j. Estimated tax rate: 30% $186,200 88,200 33,500 5,000 3,900 1,500 10,000 1,500 2,200 800 875