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The budget director of Goid Medal Athietic Co., with the assistance of the controller, treasure, production manager, and sales manager, has gathered the following data for use in developing the budgeted income statement for March: a. Entimated sales for March: BattingheimetFootballhelmet1,200unitsat$40perunit6,500unitsat$160perunit b. Estimated inventories at March 1: Direct materials: Plastic Foam lining Finished products: BattinghelmetFootbaliheimetSesiedinventoriesatMarch31:40unitsat$25perunit240unitsat$77perunit c. Desired irwentories at March 31: Direct materials: PhasticFoamlining50los.65ibs. Finithed products: Estting heiretet 50 unte at $25 per unit Football helmet. 220 units at 378 per unit d. Difect materiais used in production: In manufacture of bating heimet: Festic 1.2 16s. per unit of peesuct Foam lining 0.5 libi per unit of product Plastic 3.5lbs. per unit of product Foam lining 1.5lbs. per unit of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic Foam lining Direct labor requirements: Batting helmet: MoldingDeportmentAssemblyDepartment0.2h,at$20perhr.0.5hr,at$14perhr. Football helmet: Molding Department 0.5hr, ot $20 per hr. Assembly Department 1.8hrs, at $14 per hr. 9. Estimated factory overhead costs for March: Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax h. Estimated operating expenses for March: Sales salaries expense Advertising expense office salaries expense Depreciation expense-office equipment $86,000 12,000 4,000 2,300 Telephone expense-seling $184,300 Telephone expense-administrative 87,200 32,400 3,800 5,800 1,200 Creck My Work Required: Gheck Wy Work 1. Prepare a sales budget for March. Enter all amounts as positive numbers. 2. Prepare a production budget for March. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3. Prepare a direct materials purchases budget for March. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 4. Prepare a direct labor cost budget for March. Enter all amounts as positive numbers. 5. Prepare a factocy overhead cost budget for March. 6. Prepsre 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. For those boxes in which you must enter subtracted or negative fumbers use a minus sign. 7. Prepare a selling and administrative expenses budqet for March. 8. Prepare a budgeted income statement for March. The budget director of Goid Medal Athietic Co., with the assistance of the controller, treasure, production manager, and sales manager, has gathered the following data for use in developing the budgeted income statement for March: a. Entimated sales for March: BattingheimetFootballhelmet1,200unitsat$40perunit6,500unitsat$160perunit b. Estimated inventories at March 1: Direct materials: Plastic Foam lining Finished products: BattinghelmetFootbaliheimetSesiedinventoriesatMarch31:40unitsat$25perunit240unitsat$77perunit c. Desired irwentories at March 31: Direct materials: PhasticFoamlining50los.65ibs. Finithed products: Estting heiretet 50 unte at $25 per unit Football helmet. 220 units at 378 per unit d. Difect materiais used in production: In manufacture of bating heimet: Festic 1.2 16s. per unit of peesuct Foam lining 0.5 libi per unit of product Plastic 3.5lbs. per unit of product Foam lining 1.5lbs. per unit of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic Foam lining Direct labor requirements: Batting helmet: MoldingDeportmentAssemblyDepartment0.2h,at$20perhr.0.5hr,at$14perhr. Football helmet: Molding Department 0.5hr, ot $20 per hr. Assembly Department 1.8hrs, at $14 per hr. 9. Estimated factory overhead costs for March: Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax h. Estimated operating expenses for March: Sales salaries expense Advertising expense office salaries expense Depreciation expense-office equipment $86,000 12,000 4,000 2,300 Telephone expense-seling $184,300 Telephone expense-administrative 87,200 32,400 3,800 5,800 1,200 Creck My Work Required: Gheck Wy Work 1. Prepare a sales budget for March. Enter all amounts as positive numbers. 2. Prepare a production budget for March. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3. Prepare a direct materials purchases budget for March. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 4. Prepare a direct labor cost budget for March. Enter all amounts as positive numbers. 5. Prepare a factocy overhead cost budget for March. 6. Prepsre 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. For those boxes in which you must enter subtracted or negative fumbers use a minus sign. 7. Prepare a selling and administrative expenses budqet for March. 8. Prepare a budgeted income statement for March

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