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im not sure how its unclear? i can see what it is asking The budget director of Gold Medal Athletic Co, with the assistance of
im not sure how its unclear? i can see what it is asking
The budget director of Gold Medal Athletic Co, with the assistance of the controllec, treasurer, production manager, and soles manager, has gathered the following data for use in developing the budgeted income statement for Marcht a. Estimated sales for March: Batting helmet 1,200 units at $40 per unit Football helmet 6,500 units at $160 per unit b. Estimated inventories at March 1: Oirect materials: Plastic 90 lbs. Foam lining 80lbs. Finished products: Batting helmet 40 units at $25 per unit Football heimet 240 units at $77 per unit c. Desired inventories at March 31 : Direct materials: Plastic 50 lbs. Foam lining 65 lbs. Finished products: Batting helmet 50 units at $25 per unit Football helmet 220 units at $78 per unit d. Direct materials used in production: In manufacture of batting helmet: Plastic 1.2 lbs. per unit of product Foom lining 0.5lb, per unit of product Plastic 1.2lbs. per unit of product Foam lining 0.5bb. per unit of product In manufacture of football helmet: Plastic 3.5lbs. per unit of product Foam lining 1.5lbs, per unit of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic $6 per ib. Foam lining $4 per Ib. f. Direct labor requirements: Batting helmet: Molding Department 0.2hr, at $20 per hr. Assembly Department 0.5hr. at $14 per hr. Football helmet: Molding Department 0.5hr. at $20 per hr. Assembly Department 1,8hrs. at $14 per hr. 9. Estimated factory overhead costs for March: h. Estimated operating expenses for March: i. Estimated other revenue and expense for March: Interest revenue .$940 Interest expense 872 j. Estimated tax rate: 30% Required: 1. Prepare a sales budget for March. Enter all amounts as positive numbers. 1. Prepare a sales budget for March. Enter all amounts as positive numbers. 2. Prepare a production budget for March. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 4. Prepare a direct labor cost budget for March. Enter all amounts as positive numbers. 4. Prepare a direct labor cost budget for March. Enter all amounts as positive numbers. 5. Prepare a factory overhead cost budget for March. 6. Prepare a cost of goods soid budget for March. Work in process at the beginning of March is estimated to be $15,300, and work in process at the end of March is desired to be $14,800. For those boxes in which you must enter subtracted or negative numbers use a minus sian. 7. Prepare a selling and administrative expenses budget for March. 8. Prenaro a hidnetert inmome etatement for Mamh The budget director of Gold Medal Athletic Co., 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 1,200 units at $40 per unit Football helmet 6,500 units at $160 per unit b. Estimated inventories at March 1: Direct materiais: Plastic 90 los. Foam lining 80lbs. Finished products: Batting helmet 40 units at $25 per unit Football helmet 240 units at $77 per unit c. Desired inventories at March 31: Direct materials: Plastic so lbs. Foam lining 65lbs. Finished products: Batting helimet 50 units at $25 per unit Football helmet 220 units at $78 per unit d. Direct materials used in produbion: In manufacture of batting heimet: Plastic 1.2 lbs. per unit of product Foam lining 0.5cb. per unit of product Plastic 1.2 Ibs. per unit of product Foam lining 0.5lb. per unit of product In manufacture of football helmet: Plastic 3.5 lbs. per unit of product Foam lining 1.5lbs. per unit of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic $6 per lb. Foam lining $4 per lb. f. Direct labor requirements: Batting helmet: Molding Department 0.2hr. at $20 per hr. Assembly Department 0.5hr. at $14 per hr. Football helmet: Molding Department 0.5hr. at $20 per hr. Assembly Department 1.8hrs. at $14 per hr. g. Estimated factory overhead costs for March: h. Estimated operating expenses for March: h. Estimated operating expenses for-March: i. Estimated other revenue and expense for March: j. Estimated tax rate: 30% Required: 1. Prepare a sales budget for March. Enter all amounts as positive numbers Step by Step Solution
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