oter 21 eBook Calculator Budgeted Income Statement and Supporting Budgets The budget director of Fea

oter 21 eBook Calculator 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 December: a. Estimated sales for December: 3,200 units at Bird house $50 per unit 3,000 units at Bird feeder $70 per unit b. Estimated inventories at December 1: Direct materials: Wood 200 ft Plastic 240 lbs. Finished products: 320 units at $27 Bird house per unit 270 units at $40 Bird feeder per unit C. Desired inventories at December 31: Direct materials: Wood 220 ft. Plastic 200 Ibs. Finished products: 290 units at $27 Bird house per unit 250 units at $41 Bird feeder per unit Previous Check My Work Save and Exit Submit Assignment for Grading All work eaved Assignment Score: 65.91 % Calculator Bird feeder 250 units at $41 per unit d. Direct materials used in production: In manufacture of Bird House: 0.80 ft. per unit Wood of product 0.50 lb. per unit Plastic of product In manufacture of Bird Feeder: 1.20 ft. per unit Wood of product 0.75 lb. per unit Plastic of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Wood $7.00 per ft. Plastic $1.00 per lb. f. Direct labor requirements: Bird House: 0.20 hr. at $16 Fabrication Department per hr 0.30 hr. at $12 Assembly Department per hr Bird Feeder: 0.40 hr at $16 Fabrication Department per hr 0.35 hr. at $12 Assembly Department per hr We were unable to transcribe this imagegage LeafHlng Budgeted Income Stateme apter 21 eBook Calculator 3. Preparea direct materlals purchases budget for December. For those boxes in which you must enter subtracted or negative numbers Feathered Friends Inc. Direct Materials Purchases Budget For the Month Ending December 31 Wood Plastic Total Required units for production: Bird house 2,536 1,585 Bird feeder 3,576 2,235 Desired units of inventory, December 31 220 200 Total units available 3,796 X 4,020 -200 -240 Estimated units of inventory, December 1 3,596 X 3,780 Total units to be purchased 7 1 Unit price 25,172 X 3,780 28,952 X S S Total direct materials to be purchased 4. Prepare a direct labor cost budget for December Feathered Friends Inc. Direct Labor Cost Budget For the Month Ending December 31 Total ter 21 oBook Calqulator . Prepare a cost of goods sold budget for December Work in process at the beginning of December is estimated toO be $29,000, and work in process at the end of December is estimated to be $35,400. For those boxes in which you must enter subtracted or negative numbers use minus sign. Feathered Friends Inc. Cost of Goods Sold Budget For the Month Ending December 31 Direct materials purchases X Direct materials inventory, December 31 X Direct materials: Cost of direct materials available for use Cost of direct materials placed in production Total manufacturing costs Total work in process during period Cost of goods manufactured Cost of finished goods available for sale Cost of goods sold Previous Check My Work Save and Exit Submit Assignment for Grading All work saved Score: 75.25% We were unable to transcribe this imageU Supporting Bu eBook Calculator 8. Prepare a budgeted income statement for December. In the Other revenue and expense section, indicate expenses as negative amounts. Feathered Friends Inc. Budgeted Income Statement For the Month Ending December 31 $$ Operating expenses: $$ Total operating expenses Income from operations Other revenue and expense: $$ Income before income tax ss Net income Feedback 2, 3, 4, & 5. The direct materials cost budget, the direct labor cost budget, and the factory overhead budget each use the level of production from the production estimate costs. Check My Work Pre Check My Work Submit Assignment Save and Exit

 

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