i just need the income statement budget, first picture, all of the budgets are completed in the pictures. Thank you!!!
2 3 Budgeted Income Statement Requirement 5 8 Use the information obtained from previously prepared budgets to prepare Ford Seasoning's comparative 4 budgeted income statement for the month of January ( up until operating income.) 5 Ford Seasoning 6 Budgeted Income Statement 7. For the Month Ending January 31, 20XX January Sales Revenue 10 Cost of Goods Sold 11 Gross Profit 12 Selling & Administrative Expenses 13 Operating Income 14 15 9 16 - month by the percentages given in the table above. 3. Ford Seasoning 2 Sales Budget LO For the Quarter Ended March 31, 20XX 11 January 12 Budgeted Jars to be Sold 15,000 13 Times: Sales Price per Jar $ 11.50 14 Total Monthly Sales Revenue $ 172,500 15 16 upcoming quarter. Ford Seasoning Production Budget 1 For the Month Ended January 31, 20XX 2 3 Budgeted Jars to be Sold 4 Add:Desired Jars in Ending Inventory 5 Total Jars Needed 5 Less: Jars in Beginning Inventory 7 Budgeted Jars to be Produced R January 15,000 1,500 16,500 1,500 15,000 11 Ford Seasoning 12 Direct Materials Budget 13 For the Month Ended January 31, 20XX 14 15 Budgeted Jars to be Produced 16 Times: Pounds of Direct Materials per Unit (Jar) 17 Direct Materials Needed for Production 18 Add: Desired Direct Materials in Ending Inventory 19 Total Direct Materials Needed 20 Less: Direct Materials in Beginning Inventory 21 Budgeted Purchases of Direct Materials 22 Times: Direct Materials Cost per Pound 23 Budgeted Cost of Direct Materials Purchases January 15,000 0.50 7,500 1,500 8,500 (1,500) 7,500 6.00 45,000 $ 24 7 month of January 8 Ford Seasoning 9 Direct Labor Budget 10 For the Month Ended January 31, 20XX 11 12 Budgeted Jars to be Produced 13 Times: Direct Labor Hours Required per Unit (Jar) 14 Direct Labor Hours Required for Production 15 Times: Estimated Direct Labor Cost per Hour 16 Total Direct Labor Costs 17 January 15,000 0.10 1,500 20 30,000 $ January 15,000 1.50 22,500 10 Ford Seasoning 11 Manufacturing Overhead Budget 12 For the Month Ended January 31, 20XX 13 14 Budgeted Jars to be Produced 15 Times: Variable Overhead per Jar 16 Total Budgeted Variable Overhead Costs 17 Budgeted Fixed Overhead Costs: 18 Fixed Depreciation 19 Utilties, Insurance, & Property Taxes 20 Total Budgeted Fixed Overhead 21 Total Budgeted Manufacturing Overhead Costs $ 22 Divide by: Budgeted Jars to Produced 23 Budgeted Manufacturing Overhead per Jar $ 6,600 4,650 11,250 33,750 15,000 2.25 A $ January Direct Materials Cost per Jar 3.00 Direct Labor Cost per Jar 2.00 Manufacturing Overhead Cost per Jar 2.25 Total Cost to Manufacture One Jar of 12-Spice $ 7.25 Requirement Two The following info relates to Ford Seasoning's beginning inventory: Quantity Unit Finished Jars in Beginning Inventory, 1-1-XX 1,500 $ Use the information regarding beginning finished goods inventory, your answer to requirem to prepare Ford Seasoning's cost of goods sold budget for the month of January 20XX. Ford Seasoning Cost of Goods Sold Budget For the Month Ended January 31, 20XX January Beginning Inventory, 1,500 Jars 10,875 1 Add: Cost of Jars Produced & Sold During Quarter 108,750 2 Budgeted Monthly Cost of Goods Sold $ 119,625 3 4 11 9 Prepare Ford Seasoning's selling and administrative expense budget for the upcoming 10 Ford Seasoning Selling & Administrative Expense Budget 12 For the Month Ended January 31, 20XX 13 January 14 Administrative Salaries Expense 8,200 15 Fixed Depreciation Expense 3,150 16 Other Fixed S&A Expenses 2,400 17 Total Budgeted Fixed S&A Expenses $ 13,750 18