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Problem Templates The host director of power to be with the aidance of the time in and tres pattered the following data frasein desdepins the ballet me sumes for Me T:00 units $24 porn Model imishod Products Bact20 Direct Materials Mesta P06 Dead Me Direct Material Movie 2.0 Poatining who has bedre Hay 003) Mocht 500 with it of products Folining 2.per to productie In memories we 350 hitap Foanlinin 4 posto de e Amichevy Mastic 4.40 For lining 5.90 per S515 101 sperm Bicycle Modigde Assembly department Motorcycle but Mihile drama Asemmily department So hr 515 per hour Superb Indirect preetila uk pharlal Power STO ST SI S. It Estimated opening experie My Siswa Ating Offers IDepresseinayae - trap Mi per Tonalpasti Office wpis pene Sie wissen med etter norward to May Interest reme 350 INSTRUCTIONS Lease Me 2. Prepare for My ad u May - There are the car fulye M Prepare al for Mas 6 Thupare a cost of all of May Work in the beginning of May is meteo 20 de ses enfais deste 100 7. sellel Kan for Me Problem Templates Keyc Instructions Answers are entered in the cells with gray backgrounds Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (*) will appear immediately to the right of an incorrect answer JUPITER HELMETS INC. Sales Budget For the Month Ending May 31 Unit Sales Unit Selling Volume Price Total Sales Bicycle helmet Motorcycle helmet Total revenue from sales 2 JUPITER HELMETS INC. Production Budget For the Month Ending May 31 Bicycle Helmet Units Motorcycle Helmet Expected units to be sold Plus desired inventory, May 31 Total Less estimated inventory, May 1 Total units to be produced JUPITER HELMETS INC. Direct Materials Purchases Budget For the Month Ending May 31 Plastic Foam Lining Total Required units for production: Bicycle helmet Motorcycle helmet Plus desired inventory May 31 Total Less estimated inventory May 1 Total units to be purchased Multiply by unit price Total direct materials to be purchased JUPITER HELMETS INC. Direct Labor Cost Budget For the Month Ending May 31 Molding Department Assembly Department Total Hours required for production: Bicycle helmet Motorcycle helmet Total Multiply by hourly rate Toral direct labor cost JUPITER HELMETS INC. Factory Overhead Cost Budget For the Month Ending May 31 Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax Total JUPITER HELMETS INC. Cost of Goods Sold Budget For the Month Ending May 31 Finished goods inventory, May 1 Work in process inventory, May 1 Direct materials: Direct materials inventory, May 1 Direct materials purchases Cost of direct materials available for use Less: direct materials inventory, May 31 Cost of direct materials placed in production Direct labor Factory overhead Total manufacturing costs Total work in process during the period Less work in process inventory, May 31 Cost of goods manufactured Cost of finished goods available for sale Less finished goods inventory, May 31 Cost of goods sold JUPITER HELMETS INC. Selling and Administrative Expenses Budget For the Month Ending May 31 Selling expenses: Sales salaries expense Advertising expense Travel expense - selling Miscellaneous expense - selling Total selling expenses Administrative expenses: Office salaries expense Depreciation expense - office equipment Utilities expense - administrative Office supplies expense Miscellaneous administrative expense Total administrative expenses Total operating expenses 8. JUPITER HELMETS INC. Budgeted Income Statement For the Month Ending May 31 Revenue from sales Cost of goods sold Gross profit Operating expenses: Selling expenses Administrative expenses Total operating expenses Income from operations Other income: Interest revenue Other expenses: Interest expense Income before income tax Income tax expense Net income Problem Templates The budget director of Jupiter Helmets, 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 May: a. Estimated sales for May: Bicycle helmet Motorcycle helmet 7,5000 units @ S24 per unit 5,000 units @ $175 per unit b. Estimated inventories for May 1: Direct Materials Plastic 1.480 lbs Foam lining 520 lbs Finished Products Bicycle helmet 200 units a s15 per unit Motorcycle helmet 100 units @ $90 per unit c. Desired Inventories at May 31: Direct Materials Finished Products Plastic 2,000 lbs Bicycle helmet 400 units @ $15 per unit Foam lining 800 lbs Motorcycle helmet 300 units @ $100 per unit d. Direct materials used in production: Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic Foam lining $4.40 per lb. $.90 per lb. f. Direct labor requirements: Bicycle helmet Molding department .30 hrasis per hour Assembly department 10 hr. 814 per hours Motoreycle helmet Molding department 50 hr @ S15 per hour Assembly department 40 hr. @ 514 per hours . Estimated factory overhead costs for May Indirect factory wages S125,000 Depreciation of plant and equipment S45,000 Power and light $23,000 Insurance and property tax S11.000 h. Estimated operating expenses for May: Sales and salaries expense Advertising expense Office salaries expense Depreciation expense - office equipment Mise expense selling Utilities expense - administrative Travel expense - selling Office supplies expense Misc administrative expense $175.000 $120,000 $92,000 $6,000 $5,000 $3,000 $50,000 $2.500 $1.500 i Estimated other income and expense for May: $14,500 $3,000 Interest revenue Interest expense INSTRUCTIONS Prepare a sales budget for May 2. Prepare a production budget for May 3. Prepare a direct materials budget for May 4. Prepare a direct labor cost budget for May 5. Prepare a factory overhead cost budget for May 6. Prepare a cost of goods sold budget for May. Work in process at the beginning of May is estimated to be $4,200, and work in process at the end of May is desired to be 53.800 7. Prepare a selling and administrative budget for May 8. Prepare a budgeted income statement for May Instructions Answers are entered in the cells with gray backgrounds Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (") will appear immediately to the right of an incorrect answer. JUPITER HELMETS INC Sales Budget For the Month Ending May 31 Unit Sales Unit Selling Volume Price Total Sales Bicycle helmet Motorcycle helmet Total revenue from sales 2. JUPITER HELMETS INC. Production Budget For the Month Ending May 31 Units Bicycle Helmet Motorcycle Helmet Expected units to be sold Plus desired inventory, May 31 Total Less estimated inventory, May 1 Total units to be produced 3. JUPITER HELMETS INC. Direct Materials Purchases Budget For the Month Ending May 31 Plastic Foam Lining Total - Required units for production: Bicycle helmet Motorcycle helmet Plus desired inventory May 31 Total Less estimated inventory, May 1 Total units to be purchased Multiply by unit price Total direct materials to be purchased JUPITER HELMETS INC Direct Laber Cost Budget For the Month Ending May 21 Molding Depar Abby Department Hours required for Bicycle helmet Motorcycle helmet Tocal Multiply by hourly Tural director JUPITER HELMETS INC Factory Overhead Cost Budget For the Month Ending May 31 Indiety Depreciation of plant and equipment Power and light Ince and pepty JUPITER HELMETS INC. Cost of Goods Sold Budget For the Month Ending May 1 Finished overy, May 1 Wirk in process inventary, May! Direct mails Direct materialevy, May 1 Direct materialen Cost of its wallable for Less direct mails voy, May 31 Cost of direct material placed is production Three labor Factory overal Total marino Toalk in process during the pri Len work in proces inventory, May 31 Cost of prods manufactured Cost of finished goods available for sale Les finished goods invesy May 31 Cost of dwell