In manufacture of football helmet: e. Anticipated cost of purchases and beginning and ending inventory of direct materiais: Direct materials: Cost of direct materials placed in production Total manufacturing costs Total work in process during the period Cost of goods manufactured Cost of finished goods available for sale Cost of goods sold 7. Prepare a selling and administrative expenses budget for March. Gold Medal Athletic Co. 8. Prepare a budgeted income statement for March. Gold Medal Athletic Co. Budgeted Income Statement For the Month Ending March 31 4. Prepare a direct labor cost budget for March. 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 use in developing the budgeted income statement for March: b. Estimated inventories at March 1: Direct materials: Plastic 90ib. Foam lining 80lb. Finished products: Batting heimet 40 units at $25 per unit Footbalt helmet 240 units at $77 per unit c. Desired inventories at March 31 : Direct materials: prastic 50lb. Foam lining 65lb. 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 heimet: 5. Prepare a factory overhead cost buctpet for March. 6. Prepare a cost of goods sold 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. B. Prepare a budgeted income statement for March. \begin{tabular}{lr} Advertising expense & 87,200 \\ Office salaries expense & 32,400 \\ Depreciation expense-office equipment & 3,800 \\ Telephone expense-5elling & 5,800 \\ Telephone expense-administrative & 1,200 \\ Travel expense-selling & 9,000 \\ Office supplies expense & 1,100 \\ Miscellaneous administrative expense & 1,000 \\ 1. Estimated other income and expense for March: \\ Interest revenue \\ Interest expense \\ 1. Estimated tax rate: 30% \\ Required: \end{tabular} Gold Medal Athletic Co. Sales Budget For the Month Ending March 31 \begin{tabular}{lcc} \hline & \begin{tabular}{c} Unit Sales \\ Volume \end{tabular} & \begin{tabular}{c} Unit Selling \\ Price \end{tabular} \\ \hline Batting helmet & & Total Sales \\ Football helmet & & \end{tabular} 2. Prepare a production budget for March. 3. Prepare a direct materials purchases budget for March. Gold Medal Athletic Co. Direct Materials Purchases Budget For the Month Ending March 31
