Wesley Power Tools manutactures a wide variery of tools and accessories, One of its more popular items is a cordiess power handisaw. Each handisaw sells for $60. Westey expects the following unit sales. Wesley's ending finished goods inventory policy is 25 percent of the next month's sales Suppose each handisaw takes approdimately 0.45 hour to manufacture, and Wesley poys an average labor wage of $14.50 per hour Each handisaw requires two plastic components that Wesley purchases from a supplier at a cost of $2.00 each. The company has an ending direct materials inventory policy of 10 percent of the following month's production requirements. Materlals other than the plastic components total $3.50 per handisaw Manufacturing overhead for this product includes $66,000 annual fixed overhead (based on production of 21,000 . units) and $070 per unit variable manufacturing overthead Wesley's seling expenses are 4 percent of sales dollars, and administrative expenses are fixed at $18,000 per month. Required: 1. Compute the budgeted cost of goods sold for the first quarter 2. Compute the budgeted seling and administrative expenses for the first quarter 3. Complete the budgeted income statement for the handisaw product for the first quarter. Complete this question by entering your answers in the tabs below. Compute the budgeted cost of goods sold for the first quarter. Note: Round direct material, direct labor and overthesd costs per unit to 2 dedmal places. Round final answers to the nearest. dollar amount. Wesley Power Tools manufactures a wide variety of tools and accessones One of its more popular items is a cordiess power handisaw. Each handisaw sellis for $60. Wesley expects the following unit sales: Wesley's ending finished goods inventory policy is 25 percent of the next month's sales. Suppose each handisaw takes approximately 0.45 hour to manufacture, and Wesiey pays an average labor wage of $14.50 per hour Each handisaw requires two plastic components that Wesley purchases from a supplier at a cost of $200 each. The compary has an ending direct materials inventory policy of 10 percent of the following month's production requirements. Materials other than the plastic components total $3.50 per handisaw Manufacturing overhead for this product includes $66,000 annual fixed overhead (based on production of 21,000 units) and $070 per unit variable manufacturing overhead. Wesley's selling expenses are 4 percent of sales dolars, and administrative expenses are fixed at $18,000 per month. Required: 1. Compute the budgeted cost of goods sold for the first quarter. 2 . Compute the budgeted selling and administrative expenses for the first quarter 3. Complete the budgeted income statement for the handisaw product for the first quarter Complete this question by entering your answers in the tabs below. Compute the budgeted selling and administrative expenses for the first quarter. Wesley Power Tooks manufactures a wide variety of tools and accessories. One of its more popular items is a cordless power handisaw. Each handisaw sells for $60. Wesley expects the following unit sales: Wesley's ending finished goods inventory policy is 25 percent of the next month's sales. Suppose each handisaw takes approximately 0.45 hour to manufacture, and Wesley pays an average labor wage of $14.50 per hour Each handisaw requires two plastic components that Wesley purchases from a supplier at a cost of $200 each. The company has an ending direct materials inventory policy of 10 percent of the following month's production requirements. Materials other than the plastic components total $3.50 per handisaw. Manufacturing overhead for this product includes $66,000 annual fixed overhead (based on production of 21,000 units) and $070 per unit vanable manufacturing overhead. Wesley's selling expenses are 4 percent of sales dollars, and administrative expenses are fixed at $18,000 per month. Required: 1. Compute the budgeted cost of goods soid for the first quarter 2 Compute the budgeted seling and administrative expenses for the first quarter. 3. Complete the budgeted income statement for the handisaw product for the first quarter. Complete this question by entering your answers in the tabs below. Complete the budgeted income statement for the handisaw product for the first quarter. Note: Round direct material, drect labor and overbead costs per unit to 2 decimai places. Rousd final answers to the nearest dollar amount 1. Compute the budgeted cost of goods soid for the first quarter. 2. Compute the budgeted selling and administrative expenses for the first quarter. 3. Complete the budgeted income statement for the handisaw product for the first quarter: Complete this question by entering your answers in the tabs below. Complete the budgeted income statement for the handisaw product for the first quarter: Note: Fround direct material, direct labor and overhead costi per unit to 2 decimal places, Round final answers to the neareat dollar ampunt
