Homework: Chapter 9 Homework Question 3, E9-25A (sim... Part 1 of 3 HW Score: 0%, 0 of 25 points O Points: 0 of 3 Save Gable Industries manufactures three models of a product in a single plant with two departments: Cutting and Assembly. The company has estimated costs for each of the three product models, the Flash, the Zip, and the Imperial models. (Click the icon to view the direct labor hour information.) (Click the icon to view the unit production information.) Requirement Prepare a direct labor budget for the upcoming year that shows the budgeted direct labor costs for each department and for the company as a whole. Data table Prepare the direct labor budget for the Cutting Department, then the Assembly Department, and finally the company as a whole. Gable Industries Budgeted unit production for each of the products is as follows: Direct Labor Budget Number of units to For the upcoming Year be produced Flash Zip Imperial Total Product model: Cutting Department Flash 520 Units to be produced Zip 750 Imperial 860 Multiply by: Direct labor hours per unit Total cutting hours required Multiply by: Direct labor cost per hour Data table Budgeted direct labor cost The company is currently analyzing direct labor hour requirements for the upcoming year. Cutting Assembly Estimated hours per unit: Flash 1.3 2.3 1.0 2.1 zip Imperial Direct labor hour rate 1.4 2.5 $ 8 S 10 Monette Motors is a chain of car dealerships. Sales in the fourth quarter of last year were $3,700,000. Suppose management projects that its current year's quarterly sales will increase by 2% in quarter 1, by another 4% in quarter 2, by another 5% in quarter 3, and by another 7% in quarter 4. Management expects cost of goods sold to be 55% of revenues every quarter, while operating expenses should be 20% of revenues during each of the first two quarters, 30% of revenues during the third quarter, and 25% during the fourth quarter. Requirement Prepare a budgeted income statement for each of the four quarters and for the entire year. ..... Prepare the first portion of the budgeted income statement through gross profit, then complete the statement. (Round the amounts to the nearest whole dollar.) Monette Motors Budgeted Income Statement For the Upcoming Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Sales Less: Cost of goods sold Gross profit