part 5-8

TILL UPP HU... eBook Calculator Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., 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 January a. Estimated sales for January: Birdhouse 6,000 units at $55 per unit Bird feeder 4,500 units at $75 per unit b. Estimated inventories at January 1: Direct materials: Wood 220 ft. Plastic 250 lb. Finished products: Birdhouse 300 units at $23 per unit Bird feeder 240 units at $34 per unit c. Desired inventories at January 31: Direct materials: Wood Plastic Finished products: Birdhouse 340 units at $23 per unit 200 units at $34 per unit Bird feeder Check My Work 2 more Check My Work uses remaining Previous Next > Email Instructor Save and Exit Submi Assignment for Grade L ULUULUU UUU ULIUUULLIOTT In manufacture of BirdHouse: Wood 0.80 ft. per unit of product Plastic 0.50 lb. per unit of product In manufacture of Bird Feeder: Wood 1.20 ft. per unit of product Plastic 0.75 lb. per unit of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Wood $8.00 per ft. Plastic $1.20 per lb. f. Direct labor requirements: Birdhouse: Fabrication Department 0.20 hr at s15 per hr. Assembly Department 0.30 h at $12 per hr Bird Feeder Fabrcation Department 0.40 hr. at 515 per hr Assembly Department 0.35 hr. at 512 per hr g. Estimated factory overhead costs for January Indirect factory wages Depreciation of plant and equipment Power and light $80,000 25,000 8.000 Check ok 2 more Check My Work uses remaining 2,000 Insurance and property tax h. Estimated operating expenses for January: Sales salaries expense $90,000 Advertising expense 20,000 office salaries expense 18,000 Depreciation expense-office equipment 800 Telephone expense-selling 500 Telephone expense-administrative 200 Travel expense-selling 5,000 Office supplies expense 250 450 Miscellaneous administrative expense 1. Estimated other income and expense for January: Interest revenue $300 224 Interest expense 1. Estimated tax rate: 302 Required: 1. Prepare a al con January BHS afla Feather Ine 5. Prepare a factory overhead cost budget for January. Birds of a Feather Inc. Factory Overhead Cost Budget For the Month Ending January 31 Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax Total 6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January estimated to be 535,400. Birds of a Feather Inc. Cost of Goods Sold Budget For the Month Ending January 31 Cost of Goods Sold Budget For the Month Ending January 31 Direct materials: Cost of direct materials available for use Cost of direct maten als placed in production Total manufacturing costs Total work in process during the period Cost of goods manufactured Check My World 2 more Check My work uses remaining Cost of goods sold 7. Prepare a selling and administrative expenses budget for January Birds of a Feather Inc. Selling and Administrative Expenses Budget For the Month Ending January 31 Selling expenses: Sales salaries expense Advertising expense Telephone expense-selling Travel expense-selling Tota selling expenses Administrative expenses: Office salaries expense Depreciation expense-office equipment Check My Work 2 more Check My Work uses remaining Telephone expense-administrative office supplies expense Miscellaneous administrative expense Total administrative expenses Total operating expenses 8. Prepare a budgeted income statement for January. Birds of a Feather Inc Budgeted Income Statement For the Month Ending January 31 Selling and administrative expenses: Total selling and administrative expenses Check War 2 more Check on uses remaining Budgeted Income Statement For the Month Ending January 31 Selling and administrative expenses: Total selling and administrative expenses Other revenue: Other expenses