Required- Produce the following budgets in the tabs shown:i)Sales Budgetii) Production Budgetiii)Direct Materials Purchases Budgetiv) Direct Materials Used Budgetv) Direct Labor Budgetvi)MOH (manufacturing overhead) Budgetvii)Finished Goods Budgetviii)Cost of Goods Sold Budgetix) Budgeted Income Statement

Philco Chemicals makes a patented glue for gluing electronic components together. m + in They have a CPU fan glue and a Moltherboard component glue. The glues use two patented chemical bonding agents called Coride and Dride. CO Operating Expenses are expected to be 17.5% of sales. The operating budgets for 2019 use the following data: DLH POR rate 12.00 per DLH 10 Operating Expenses 17.5% 2 Direct Materials: Coride Doride 3 Beginning Inventory ($) 45,000 $ 36,000 4 Beginning Inventory (grams) 500 750 5 Target Ending Inventory (grams) 750 500 grams Input Prices: 8 Coride 4.50 per gram Doride 6.00 per gram Direct Manufacturing Labor 30.00 per DLH Input Quntities per unit of Output: CPU Motherboard Coride 0.50 1.00 gram Doride 1.50 2.50 gram Direct Labour Hours 0.30 0.40 DLH's Sales and FG Inventory: CPU Motherboard Expected Sales in Units 200.000 120 000 units Selling price A 55.00 A 65.00 Units to be produced 206,000 132,500 units Target ending FG inventory (units) 15.000 20.000 units Beginning inventory in dollars 225,000 200.000 Beginning FG inventory (units) 9:000 7 500 units