direct labor n Fabrication opt. $29.216 EXCEL TEMPLATE I Wood. Plastic PR 7-3A Budgeted income statement and supporting budgets Obj. 4 The budget director of Feathered Friends 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 December Estimated sales for December Bird house 3.200 units at 550 per unit Bird feeder 3,000 units at $70 per unit B. Estimated inventories at December 1: Direct materials: Finished products: Wood 200 ft. Bird house.... 320 units at $27 per unit Plastic ... 240 lbs Bird feeder....... 220 units at $40 per unit C Desired inventories at December 313 Direct materials: Finished products: 220ft Bird house 290 units at $27 per unit 200 lbs Bird feeder 250 units at $41 per unit D. Direct materials used in production: In manufacture of Bird House In manufacture of Bird Feeder Wood 0.80 ft per unit of product Wood 1.20 ft. per unit of product Plastic 0.50 lb. per unit of product Plastic 0.75 lb. per unit of product E. Anticipated cost of purchases and beginning and ending inventory of direct materials Wood ......... $7.00 per lt. Plastic HE 500 per i F. Direct labor requirements: Bird House Fabrication Department HERRERA 0.20 h. a 16 Assembly Department.. 0.30 h. a 12 M Bird Feeder: Fabrication Department 0.40 Patste per Assembly Department. 9.35 heat $12 perhe G. Estimated factory overhead costs for December Indirect factory wages $75,000 Power and light $6.000 Depreciation of plant and equipment 23,000 insurance and property tax 5.000 stistatistine Theme HHH EN ARH HORN Feathered Friends Inc. Factory Overhead Cost Budget For the Month Ending December 31 Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax Total Feathered Friends Inc. Cost of Goods Sold Budget For the Month Ending December 31 Direct materials: Direct materials purchases Cost of direct materials available for use Cost of direct materials placed in production Direct labor Factory overhead Total manufacturing costs Total work in process during period Cost of goods manufactured Cost of finished goods available for sale Cost of goods sold Cost of finished goods available for sale Cost of goods sold Supporting calculations: Units Cost Total Finished goods inventory, Dec. 1: Bird house Bird feeder Total Finished goods inventory, Dec. 31: Bird house Bird feeder Total Direct materials inventory, Dec. 1: Wood Plastic Total Direct materials inventory, Dec. 31 Wood Plastic Feathered Friends Inc. Selling and Administrative Expenses Budget For the Month Ending December 31 Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total operating expenses Feathered Friends Inc. Budgeted Income Statement Feathered Friends Inc. Budgeted Income Statement For the Month Ending December 31 Revenue from sales Cost of goods sold Gross profit Operating expenses: Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue and expense: Interest revenue Interest expense Income before income tax Income tax expense Net income