ovement and supporting gets The rector of Peathered Friends Inc., with the assistance of the controller treasures production manager and sales manager, hes gathered the flowing data for use in developing the budgeted Income Matement for December mated sales for December Birdhouse 3,200 units at $50 per un Bird Feeder 3,000 $70 per unit Estimated Inventores at December 1 Direct materia 200 Ft Finished products 320 i 127 per unit 270 units at $40 per Desired inventories at December 31 Direct materials 22015 200 lbs. Pinished products: Bird house 290 units at $27 per un Bird feeder 250 units at 541 per un Direct materials used in production: In manufacture of Bird House 0.80 per of product 0.50 lb, per unit of product in manufacture of Bird Feeder 120 L per unit of product 0.75 lb. per unit of product e. Anticipated cost of purchases and beginning and ending inventar 17.00 per It $1.00 perb t Direct labor requirements Fabrication Department $75,000 23,000 6,000 5,000 Assembly Department 0.35 nr. at $12 per nr. 9. Estimated factory overhead costs for December: Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax h. Estimated operating expenses for December: Sales salaries expense Advertising expense Office salaries expense 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 December: Interest revenue Interest expense 1. Estimated tax rate: 30% $70,000 18,000 21,000 600 550 250 4,000 200 400 $200 122 Required: 1. Prepare a sales budget for December Feathered Friends Inc. Sales Budget For the Month Ending December 31 Unit Sales Unit Selling Volume Price Total Sales Bird house Bird feeder Total revenue from sales 2. Prepare a production budget for December. For those boxes in which you must enter subtracted or negative numbers use a 4. Prepare a direct labor cost budget for December Feathered Friends Inc. Direct Labor Cost Budget For the Month Ending becember 31 Fabrication Department Assembly Department Total Hours required for production: Bird house Bird feeder Total Hourly rate Total direct labor cost 5. Prepare a factory overhead cost budget for December Feathered Friends Inc. Factory Overhead Cost Budget For the Month Ending December 31. Total factory overhead cost 6. Prepare a cost of goods sold budget for December. Work in process at the beginning of December is estimated to be $29,000, and work in process at use a minus sign. Feathered Friends Inc. Cost of Goods Sold Budget For the Month Ending December 31 Direct materials: hepat o s budget for December in process at the beginning of December Feathered Friends in Cost of Good Bald Budget 7. Prepare a selling and administrative expenses budget for December. Feathered Friends Inc. Selling and Administrative Expenses Budget For the Month Ending December 31 Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total operating expenses 8. Prepare a budgeted Income statement for December. In the other revenue and expense section, indicate expenses as negative amounts Feathered Friends Inc. Budgeted Income Statement For the Month Ending December 31 Operating expenses: Total operating expenses Income from operations Other revenue and expense: esc a Total administrative expenses Total operating expenses 8. Prepare a budgeted income statement for December. In the other revenue and expense section, indicate expenses as negative amounts. Feathered Friends Inc. Budgeted Income Statement For the Month Ending December 31 Operating expenses: Total operating expenses Income from operations Other revenue and expense: Income before income tax Net income