Budgeted Income Statement and Supporting Budgets The budget director of Feathere
ID: 2376019 • Letter: B
Question
Budgeted Income Statement and Supporting Budgets
The budget director of Feathered Friends 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 October 2012:
1. Prepare a sales budget for October.
2. Prepare a production budget for October. Enter all amounts as positive numbers.
3. Prepare a direct materials purchases budget for October. Enter all amounts as positive numbers.
4. Prepare a direct labor cost budget for October.
5. Prepare a factory overhead cost budget for October. Enter all amounts as positive numbers.
6. Prepare a cost of goods sold budget for October. Work in process at the beginning of October is estimated to be $27,000, and work in process at the end of October is estimated to be $32,400.
7. Prepare a selling and administrative expenses budget for October. Enter all amounts as positive numbers.
8. Prepare a budgeted income statement for October. Enter all amounts as positive numbers.
Sales Budget
For the Month Ending October 31, 2012 Unit Sales
Volume Unit Selling
Price Total Sales Bird house Bird feeder Total revenue from sales
Explanation / Answer
Unit sales volume
Selling price
Total
Bird house
3500
45
157500
feeder
3700
65
240500
Total
398 000
Production budget
Bird house
feeder
Expected unites to be sold
3500
3700
inventory
360
180
Total
3860
3880
less
300
200
Total
3560
3680
Unit sales volume
Selling price
Total
Bird house
3500
45
157500
feeder
3700
65
240500
Total
398 000
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