The budget director of Birding Homes \& Feeders 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: Bird house 15,000 units at $25 per unit Bird feeder 40,000 units at $15 per unit b. Estimated inventories at January 1: Direct materials: Wood 600ft. Plastic 1,000 lbs. Finished products: Bird house 1,000 units'at $15 per unit Bird feeder 2,500 units at 58 per unit c. Desired inventories at January 311 Direct materials: Wood 500ft. Plastic 1,250 lbs. Finished products: Bird house 1,500 units at $15 per unit Bird feeder 3,000 unies at $8 per unit d. Direct materials used in production: In manufacture of Bird House: Wood 0.80ft. per unit of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Wood $2.50 per ft. Plastic $0.80 per ib. f. Oirect labor requirements: Bird House: Fabrication Department 0.40hr, at $18 per hr. Assembly Department 0.20hr, at $12 per hr. Bird Feeder: Fabrication Department 0.25hr, at $18 per hr. Assembly Department 0.10hr. at $12 per hr. 9. Estimated factory overhead costs for January: h. Estimated operating expenses for JInuary: 1. Estimated other revenue and expense for January: 1. Estimated tax rate: 25% Required: 1. Prepare a sales budget for January. 2. Prepare a production budget for January. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3. Prepare a direct materials purchases budget for January. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 4. Prepare a direct labor cost budpet for January. 5. Prepare a factory overhead cost budget for January. 5. Prepore a factory overhead cost budget for January. 6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January is estimated to be 59,000, and work in process at the end of January estimated to be $10,500. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 7. Prepare a selling and administrative expenses budget for January. 8. Prepare a budgeted income statement for January. In the Other revenue and expense section, indicate expenses as negative amounts