Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help! Budgeted Income Statement and Supporting Budgets The budget director of Birds and Beyond Inci, with the assistance of the controller, treasurer, production manager,
please help!
Budgeted Income Statement and Supporting Budgets The budget director of Birds and Beyond Inci, 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 b. Estimated inventories at January 1: Direct materiais: WoodPlastic198ft.420lt. Finished products: BirdhouseBirdfeeder500unitsat$28perunit210unitsat$40perunit c. Desired inventories at January 31: Direct materials! WoodPlastic220ft.340lt. Finished products: Birdhouse 400 units at $28 per unit Bird feeder 250 units at 540 per unit d. Direct materials used in production: In manufacture of BirdHouse: Wood 0,80ft. per unit of product Plastic 0.50lb. per unit of product c. Anticipated cost of purchases and boginning and ending imventory of direct materials: Wood $9.00 perft. Prastic $1.40 per lo. Power and light Insurance and property tax h. Estimated operating expenses for January: Sales salaries expense Advertising expense 10,100 2,800 Office saiaries expense Depreciation expense-affice equipment Telephone expense-selling $85,100 Telephone expense-administrative 17,600 Travel expense-selling 19,200 Office supplies expense 1,100 Miscellaneous administrative expense 1,000 1. Estimated other income and expense for January: 400 Interest revenue 3,800 350 Interest expense $450 J. Estimated tax rate: 25% 1. Prepare a sales budget for January. Birds and Beyond Inc. Sales Budget For the Month Ending January 31 2. Prepare a production budget for January. 3. Prepare a direct materials purchases budget for January. Round your unit price answers to two decimal places, 4. Prepare a difect labor cost budget for January. Birds and Beyond Inc. Direct Labor Cost Budget For the Month Ending January 31 5. Prepare a factory overhead cost budget for-January. 6. Prepare a cost of goods sold budget for Janikary. Work in process at the beginning of 2 anuary is estimated to be $33,600, and work in process at the end of January is estimated to be $41,200. Direct materials: Cost of direct materials available for use Cost of direct moterials pleced in production Total manufacturing costs Total work in process during the period Cost of goods manufactured Cost of finished goods available for sale 7. Prepare a selling and administrative expenses budget for January. 8. Prepare a budgeted income statement for January Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started