Problems #5-#9 are listed in order below.

Part B. Budgets During July of the current year, the management of Quivers Inc. asked the controller, Robin, to prepare August manufacturing and income statement budgets. Demand was expected to be 1,500 cases of jet wax at $100 per case for August. Inventory planning information is provided as follows: Finished Goods Inventory Cases 300 175 Estimated finished goods inventory, August 1 Desired finished goods inventory, August 31 Materials Inventory Cost $ 12,000.00 $ 7,000.00 Estimated materials inventory, August 1 Desired materials inventory, August 31 Cream Base (oz) Oils (oz) Bottels (oz) 250 290 600 1,000 360 240 There was negligible work in process inventory assumed for either the beginning or end of the month; thus, none was assumed. In addition, there was no change in the cost per unit or estimated units per case operating data from January. Instructions 5.Prepare the August production budget. 6. Prepare the August direct materials purchases budget. 7.Prepare the August direct labor cost budget. Round the hours required for production to the nearest hour. 8.Prepare the August factory overhead cost budget. 9. Prepare the August budgeted income statement, including selling expenses. REQUIREMENT #5: Develop the production budget. Quivers Inc. Production Budget For the Month Ended August 31 Cases Expected cases to be sold Plus desired ending inventory Total units required Less estimated beginning inventory Total units to be produced Requirement #6: Develop the direct materials purchases budget. Total Quivers Inc. Direct Materials Purchases Budget For the Month Ended August 31 Cream Base Natural Bottles (oz.) Oils (oz.) (bottles) Units required for production Plus desired ending inventory Total units required Less estimated beginning inventory Total materials to be purchased * Unit price Total direct materials to be purchased Raw Materials Units X Volume Total Cream Base Natural Oils Bottles Requirement #7: Develop the direct labor cost budget. Quivers Inc. Direct Labor Cost Budget For the Month Ended August 31 Mixing Filling Total Hours required for production of: Ophelia Wax Product Hourly rate Total direct labor cost Labor Production Time / Hour Units x Total Mixing Filling Requirement #8: Develop the factory overhead cost budget. Quivers Inc. Factory Overhead Cost Budget For the Month Ended August 31 Fixed Variable Total Utilities Facility Lease Equipment Depreciation Supplies Total factory overhead cost Cost Cases Cost Total Fixed Cost (from Question 3 Variable Utility Cost Requirement #9 Quivers Inc. Budgeted Income Statement For the Month Ended August 31 Sales Finished goods inventory, August 1 Direct materials: Direct materials inventory, August 1 Direct materials purchases (from Question 6] Cost of direct materials available for use Less direct materials inventory, August 31 Cost of direct materials placed in production Direct labor (from Question 7] Factory overhead [from Question 8] Cost of goods manufactured Cost of finished goods available for sale Less finished goods inventory, August 31 Cost of goods sold Gross profit Selling expenses Income from operations Units x Price Total Sales Selling Expenses Cream Base (oz.) Oils (oz) Bottels (oz.) Total Direct materials inventory, August 1 Direct materials inventory, August 31 Rate Cream Base (oz.) Oils (oz.) Bottels (oz.)