The budget director of Gold Medal Athletic Co., 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 March:

1. Estimated sales for March:Batting helmet1,200 units at $40 per unitFootball helmet6,500 units at $160 per unit
2. Estimated inventories at March 1:Direct materials:Plastic90 lb.Foam lining80 lb.Finished products:Batting helmet40 units at $25 per unitFootball helmet240 units at $77 per unit
3. Desired inventories at March 31:Direct materials:Plastic50 lb.Foam lining65 lb.Finished products:Batting helmet50 units at $25 per unitFootball helmet220 units at $78 per unit
4. Direct materials used in production:In manufacture of batting helmet:Plastic1.20 lb. per unit of productFoam lining0.50 lb. per unit of productIn manufacture of football helmet:Plastic3.50 lb. per unit of productFoam lining1.50 lb. per unit of product
5. Anticipated cost of purchases and beginning and ending inventory of direct materials:Plastic$6.00 per lb.Foam lining$4.00 per lb.
6. Direct labor requirements:Batting helmet:Molding Department0.20 hr. at $20 per hr.Assembly Department0.50 hr. at $14 per hr.Football helmet:Molding Department0.50 hr. at $20 per hr.Assembly Department1.80 hrs. at $14 per hr.
7. Estimated factory overhead costs for March:Indirect factory wages$86,000Depreciation of plant and equipment12,000Power and light4,000Insurance and property tax2,300
8. Estimated operating expenses for March:Sales salaries expense$184,300Advertising expense87,200Office salaries expense32,400Depreciation expense?office equipment3,800Telephone expense?selling5,800Telephone expense?administrative1,200Travel expense?selling9,000Office supplies expense1,100Miscellaneous administrative expense1,000
9. Estimated other income and expense for March:Interest revenue$940Interest expense872
10. Estimated tax rate: 30%

Required:

1.Prepare asales budgetfor March.

D J {.4 CengageNOWvZIOnline teachi' X [p (I!) MyCollectionsStationSsP X I I; course hemsBing X I Course Hero X I + X 6 G E] https://v2.cengagenow.com/i|rn/takeAssignment/takeAssignmentMain.do?invoker:SnakeAssignmentSessionLocator:&inprogress:false Ch. 22, Quiz B Fl A Budgeted Income Statement and Supporting Budgets The budget director of Gold Medal Athletic Co., 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 March: a. Estimated sales for March: Batting helmet 1,200 units at $40 per unit Football helmet 6,500 units at $160 per unit b. Estimated inventories at March 1: Direct materials: Plastic 90 lb. Foam lining 80 lb. 0 Finished products: Batting helmet 40 units at $25 per unit Football helmet 240 units at $77 per unit c. Desired inventories at March 31: Direct materials: Plastic 50 lb. Foam lining 65 lb. Finished products: Batting helmet 50 units at $25 per unit i053 PM I. ,0 Type here to search ' ' J 81"? ' . Eu [I : wmoai 28 j fl; CengageNOWvZiOniineteachi X I (I!) MyCollectionsStationSsP X I I) course hemsBing X I u Course Hero X I + > @ https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . . Ch. 22, Quiz B 2. Prepare a production budget for March. Enter all amounts as positive numbers. Gold Medal Athletic Co. Production Budget For the Month Ending March 31 Units Batting helmet Football helmet Expected units to be sold Plus desired inventory, March 31 Total units required Less estimated inventory, March 1 Total units to be produced 3. Prepare a direct materials purchases budget for March. Enter all amounts as positive numbers. OneDrive X Gold Medal Athletic Co. Screenshot saved Direct Materials Purchases Budget The screenshot was added to your For the Month Ending March 31 OneDrive. Type here to search O 10:54 PM 5 81.F 8/7/2021CengageNOWv2 | Online teachin X P ) My Collection - Stations - P: X course hero - Bing X Course Hero X + X @ https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . . Ch. 22, Quiz B 3. Prepare a direct materials purchases budget for March. Enter all amounts as positive numbers. Gold Medal Athletic Co. Direct Materials Purchases Budget For the Month Ending March 31 Plastic Foam Lining Total Units required for production: Batting helmet Football helmet Plus desired units of inventory, March 31 Total units required Less estimated units of inventory, March 1 Total units to be purchased Unit price Total direct materials to be purchased 4. Prepare a direct labor cost budget for March. Gold Medal Athletic Co. Type here to search O 10:54 PM 15 81OF ~ 8/7/2021 727CengageNOWv2 | Online teachin X P ) My Collection - Stations - Pc X course hero - Bing X Course Hero X + X @ https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . . Ch. 22, Quiz B Total direct materials to be purchased 4. Prepare a direct labor cost budget for March. Gold Medal Athletic Co. Direct Labor Cost Budget For the Month Ending March 31 Molding Assembly Total Department Department Hours required for production: Batting helmet Football helmet Total hours required Hourly rate Total direct labor cost OneDrive X Screenshot saved 5. Prepare a factory overhead cost budget for March. The screenshot was added to your OneDrive. Type here to search O 10:54 PM 81.F 8/7/2021CengageNOWv2 | Online teachin X P ) My Collection - Stations - Pc X course hero - Bing X Course Hero X + X -> C @ https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . . Ch. 22, Quiz B Hourly rate Total direct labor cost 5. Prepare a factory overhead cost budget for March. Gold Medal Athletic Co. Factory Overhead Cost Budget For the Month Ending March 31 Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax Total X 6. Prepare a cost of goods sold budget for March. Work in process at the beginning of March is estimated to be $15,300, and work in prod OneDrive $14,800. Enter all amounts as positive numbers. Screenshot saved The screenshot was added to your Gold Medal Athletic Co. OneDrive. Type here to search O 10:54 PM 5 81OF 8/7/2021CengageNOWv2 | Online teachin X P ) My Collection - Stations - Pc X course hero - Bing X Course Hero X + X -> @ https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . . Ch. 22, Quiz B ? 6. Prepare a cost of goods sold budget for March. Work in process at the beginning of March is estimated to be $15,300, and work in process at the end of March is desired to be $14,800. Enter all amounts as positive numbers. Gold Medal Athletic Co. Cost of Goods Sold Budget For the Month Ending March 31 Direct materials: Cost of direct materials available for use Cost of direct materials placed in production Type here to search O 10:54 PM 5 81OF ~ 8/7/2021 727CengageNOWv2 | Online teachin X P ) My Collection - Stations - Pc X course hero - Bing X Course Hero X + X -> @ https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . . Ch. 22, Quiz B Direct materials: Cost of direct materials available for use Cost of direct materials placed in production Total manufacturing costs Total work in process during the period Cost of goods manufactured Cost of finished goods available for sale Cost of goods sold Type here to search O 5 81OF ~ 10:54 PM 8/7/2021 727CengageNOWv2 | Online teachin X P ) My Collection - Stations - Pc X course hero - Bing X Course Hero X + X @ https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . . Ch. 22, Quiz B 7. Prepare a selling and administrative expenses budget for March. Gold Medal Athletic Co. Selling and Administrative Expenses Budget For the Month Ending March 31 Selling expenses: Sales salaries expense Advertising expense Telephone expense-selling Travel expense-selling Total selling expenses Administrative expenses: Office salaries expense S Depreciation expense-office equipment Telephone expense-administrative Office supplies expense Miscellaneous administrative expense Total administrative expenses Total operating expenses 10:54 PM Type here to search O 5 8/7/2021 727CengageNOWv2 | Online teachin X P ) My Collection - Stations - Pc X course hero - Bing X Course Hero X + X @ https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . . Ch. 22, Quiz B Gold Medal Athletic Co. Budgeted Income Statement For the Month Ending March 31 S Operating expenses: Total operating expenses Income from operations Other income: Other expenses: Income before income tax Net income Type here to search O 81OF ~ 10:55 PM 5 8/7/2021 727