The Budget Director of Safety Athletic Inc With The Assistance
The Budget Director of Safety Athletic Inc With The Assistance
The Budget Director of Safety Athletic Inc With The Assistance
assistance
The budget director of Safety Athletic Inc with the assistance
The budget director of Safety Athletic 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 January 2008:
a. Estimated sales for January:
Batting helmet . . . . . . . . . . . . . 3,500 units at $65 per unit
Football helmet . . . . . . . . . . . . 6,800 units at $130 per unit
b. Estimated inventories at January 1:
Football helmet:
Molding Department . . . . . . . . . . . 0.30 hour at $14 per hour
Assembly Department . . . . . . . . . . . 0.65 hour at $12 per hour
g. Estimated factory overhead costs for January:
Indirect factory wages ....... $105,000
Power and light .......... $16,000
Depreciation of plant and equipment.... 30,000
Insurance and property tax ....... 8,700
h. Estimated operating expenses for January:
Sales salaries expense ....... $265,800
Advertising expense ........ 135,600
Instructions
1. Prepare a sales budget for January.
2. Prepare a production budget for January.
3. Prepare a direct materials purchases budget for January.
4. Prepare a direct labor cost budget for January.
5. Prepare a factory overhead cost budget for January.
6. Prepare a cost of goods sold budget for January. Work in process at the beginning of
January is estimated to be $12,500, and work in process at the end of January is desired to be
$13,500.
7. Prepare a selling and administrative expenses budget for January.
8. Prepare a budgeted income statement forJanuary.
ANSWER
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