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 $8 per unit c. Desired inventories at January 31: Direct materials: Wood 500ft. Plastic 1,250 lbs. Finished products: Bird house 1,500 units at $15 per unit Bird feeder 3,000 units at $8 per unit d. Direct materials used in production: In manufacture of Bird House: Wood 0.80ft. per unit of product Plastic 0.10lb. per unit of product 6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January is estimated to be $9,000, and work in process at the end of estimated to be $10,500. For those boxes in which you must enter subtracted or negative numbers use a minus sign. i. Estimated other revenue and expense for January: j. 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. 4. Prepare a direct labor cost budget for January. 5. Prepare a factory overhead cost budget for January. 7. Prepare a selling and administrative expenses budget for January. e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Wood $2.50 per ft. Plastic $0.80 per lb. f. Direct labor requirements: Bird House: Fabrication Department 0.40 hr. at $18 per hr. Assembly Department 0.20 hr. at $12 per hr. Bird Feeder: Fabrication Department 0.25 hr. at $18 per hr. Assembly Department 0.10 hr. at $12 per hr. g. Estimated factory overhead costs for January: Total operating expenses 8. Prepare a budgeted income statement for January. In the Other revenue and expense section, indicate expenses as negative amounts. 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