Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

eBook Budgeted Income Statement and Supporting Budgets The budget director of Birds and Beyond Inc., with the assistance of the controller, treasurer, production manager, and

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
eBook Budgeted Income Statement and Supporting Budgets The budget director of Birds and Beyond 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 January a. Estimated sales for January Birdhouse 7,500 units at $66 per unit Bird feeder 5,000 units at $82 per unit b. Estimated Inventories at January 1: Direct materials: Wood 198 ft. Plastic 420 lb Finished products: Birdhouse 500 units at $28 per unit Bird Feeder 210 units at $40 per unit c. Desired inventories at January 31: Direct materials: Wood 220 ft. Plastic 340 lb. Finished products: Birdhouse 400 units at $28 per unit Bird feeder 250 units at $40 per unit d. Direct materials used in production UUTUCCHUSU UVUCITUITA In manufacture of Bird House: Wood 0.80 ft. per unit of product Plastic 0.50 lb. per unit of product In manufacture of Bird Feeder: Wood 1.20 ft. 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 $9.00 per ft. Plastic $1.40 per Ib. 1. Direct labor requirements: Birdhouse: Fabrication Department 0.25 hr at $20 per hr Assembly Department 0.30 hr. at $15 per hr Bird Feeder: Fabrication Department 0.40 hr. at $20 per hr. Assembly Department 0.35 h. at $15 per hr. 9. Estimated factory overhead costs for January: Indirect factory wages Depreciation of plant and equipment $92,000 34,000 10,100 Power and light Insurance and property tax 2.800 h. Estimated operating expenses for January: Sales salaries expense $85,100 Advertising expense 17,600 Office salaries expense 19,200 1,100 1,000 400 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 January: Interest revenue 3,800 350 250 $450

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

My Favorite Auditor Gave Me This Book

Authors: Funny Planner Publishing

1st Edition

1676058060, 978-1676058069

More Books

Students also viewed these Accounting questions

Question

Describe the job youd like to be doing five years from now.

Answered: 1 week ago

Question

So what disadvantages have you witnessed? (specific)

Answered: 1 week ago