This is a hard topic for me in accounting. It is a budget sheet and I could use the help in solving this practice problem
Budgeted incdme btaihement and suppdmng giggle}! The budget director of Gold Medal Athletic Cu., with the assistance of the controller. treasurer, production manager, and sales manager. has gathered the follawmg data for use in developing the budgeted income statemth for March 2014: a. Eslirnahed SEIE fur March: Battingl'ielmetm 1,100u'iitsat5wpeiunit Footballhelmei.......... 6,500uitsa15160periinlt b. Esiimated inventories at March 1: Direct materials: Finished products: Platinum. Dollie. Battingheimet'\" .. 4Dwiitsat525perunit Foam ning wlhs. Football helmet 24-0 units-\"$77 per unit c. Desired inventories at March 31: Direct materials. Flnlshed products: Plasllemm... SDlhs. Batnngheimet......... 5|]uniua525perunll Foam llnlng ......... 65 lbs. Football helmet . .. . .. .. 220ml\"! SIBperunlt d. Direct materials used in pruductign: In inanulactuieofbming helmet Plas'iic... 1.20Ibspermitofproduct Foamlinlng......... ................. .. QSOIhpermiiofpdeuct In manufacturedfootball helmet: Plasiii: .................. Foamlinlrig ............. lSOIbspermitofploduct Lsolbspermnofpmduct e. Jlnticipated cast of purchases and beginning and ending inventory cif direct materials: Plastic .. .4 Foam ning . f. Direct Iabur requirements: .... SWperb. ..v. 54.00pecb. Batting helmet: Making Department...................y....' Mahatszoperhr. AssemblyDepanmerrt.... ........ .. 0.50%.atsl4perhr. Football helmet; Making Department\"... ........... ...... .. 0501131520th AssemblvDepanment................ 130316.1514perhr. g. Esmahed factory overhead costs for March: Indirect facm W595 SHAW Power and light $4,000 Depredatinnofplam andequipmem 12,000 Insunneeand pmpettytax 1.30!) h. Estimahed operating expenses for March: Salessalan'esexpense $184300 Advertising upense 37.200 Ollinesalariesexpeme 32.460 Depredation expenseofce equipment 3.\" TdephoneexpersFeelIing 5,800 Telephoneexpenseadmhislnthe 1.200 Trwd aipenseeeling 9.000 O'Ipesupplies expense LIN Miscelaneous administlatlve expense LOCO I. Estimahed other income and expense fur March: Interest revenue $940 Int-reel \"pens. 312 j. Esh'mated tax late: 30% Required: 1. Prepare a In I}! _b_u_|dg__1_: far March; Enter all amOunts as pasatlve numbers. 2. Prepare a p_rg_qg_c!l_qr_|_lgg_d_ggl_ far March. Enter all amcnunts as positive numbers. 3. Prepare a rggnrnlgglnggyrgilggjgggg for March. Enter all amcuunts as positive numbers. 4. Prepare a glypgthlggrggggjggg for March. Enter all amounts as poem-re numbers. 5. Prepare a {egg-ygygrgggggggjyg for Mard1. Enter all amounls as positlve numbers. E. Preparea omnignod but)\": for March. work in process at the beglnnlng of March is estimated in be $15,300, and work In process at the end of March is daired to be $14,500. Enter all amuunu as positrve numbers. 1. Prepare a selling and adminlmtiue expenses budget for March. Enter all amounts as pasltive numbers. I. Prepare a budgeted income suten'nent far March. EntEr all amounts as pusitive numhem
