Budgeted Income Statement and Supporting Budgets The budget director of Gold Med

Question

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 2014:

Estimated tax rate: 30%

Required:

1. Prepare a sales budget for March. Enter all amounts as positive numbers.

2. Prepare a production budget for March. Enter all amounts as positive numbers.

3. Prepare a direct materials purchases budget for March. Enter all amounts as positive numbers.

4. Prepare a direct labor cost budget for March. Enter all amounts as positive numbers.

5. Prepare a factory overhead cost budget for March. Enter all amounts as positive numbers.

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.

7. Prepare a selling and administrative expenses budget for March. Enter all amounts as positive numbers.

8. Prepare a budgeted income statement for March. Enter all amounts as positive numbers.

I need help on tables 4-8

Gold Medal Athletic Co.
Sales Budget
For the Month Ending March 31, 2014 Unit Sales
Volume Unit Selling
Price Total Sales Batting helmet $ $ Football helmet Total revenue from sales $

Explanation / Answer

Answer No. 4

Answer No. 5

Answer no. 6

Note :1

Note:2

Answer No. 7

Answer No.8

Direct Labour Budget Particulars Molding Deptt. Assembly Deptt. Total Batting Helmet( 1210 unit)                   242                       605                          847 Football Helmet ( 6480 unit)                3,240                  11,664                     14,904 Total Labour hours                3,482                  12,269                     15,751 Direct Labour rate per hour $20 $14 Total Direct wages $     69,640.00 $       171,766.00 $          241,406.00

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