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Return to course 24 cm Minst 16.00 Ts Preparation of Individual Budgets During the first calendar aner of 2016, Williams Corporation is planning to manufacture a new product and introduce it in two repont Market research indicates that saleswobe 12.000 untsin the wbreion at a un price of 65 and 10.000 units in the rural region at 555 each Because the sales manager expects the product to catch on, she has asked for production sur cent to penerate a 3.000 unit ending investory. The production manager has furnished the following estimates related to manufacturing costs and operating expenses Variable per una ca Mar Det me AR 150 10) 700 Ope $0.00 M De factory 055 2.500 16.15 06 300 Open 1200 123 20.000 010 200 O Oftas 75.000 S 040 200 Other 025000 Varies per un told, not per unit produced a Assuming that the desired ending inventories of merus and are 8.000 and 24,000 pounds. respectively, and the work in process witories are material, prepare budgets for the Calendar quarter in which the new product will be introduced for each of the following operating factors Do not use with any of your answers below Donatie bestens with any of your answers below Total sales 50 2. Production 0 units 3. Material purchases cost Material Material Tural reform 0 Dermatoventory 0 0 Total punto die w Benin materiery O The 0 0 Tom 1 4. Direct labor costs 30 5. Manufacturing overhead costs To 0 OS 0 Derin ay Saya Oh Tumang 0 0 0 0 . 6 Selling and administrave expenses Bled Variable 6. Selling and administrative expenses Variable Total 5 0.1 OS Sing penes Merg Sessions Oth Toate Awesperes om 0 9 1 0 . 01 DS 0 0 0 0 0 $ Top fon b. Using data generated in requirementa prepare a budgeted income statement for the calendar quarter. Assume an overall effective income tax rate of 35% Round answers to the nearest whole number Dente necatives with your answers Williams Cerperation Budgeted income Hatement For the Quarter Ended March 3, 2016 1 0 O Cost of Goods Heywood M Depenentory Matur March MA Ending inwentary Mar Dr Ma Da aracturing Othead Mann Con Cho Good Atelor sale nyhed Goods Code 0 0 0 D 0 0 Do not use negative is with your answers Williams Corporation Budgeted Income Statement For the Quarter Ended March 31, 2016 5 0 1 ooooooo 0 Cost of Good Sold Begining inventory. Finned Goods M Beginning to Material Marches Material Available Inding inventory Materi CM Wet Labor Manuturing Overhead Total Manufacturing Cost Cost of Goods Amable for Sale Ending inventory wished Goods Cost of Goods Sold Groot Pro Operating Expert penses Administrative penser Total Operation Baneres Income before income taxes income pense Net 0 0 0

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