1. 4. Prepare a Budget that estimates direct labor hours and related costs needed to support budgeted production.direct labor cost budget for January.

   Birds of a Feather Inc. Direct Labor Cost Budget For the Month Ending January 31
   			Fabrication Department		Assembly Department	Total
   Hours required for production:
   	Birdhouse
   	Bird feeder
   	Total
   Hourly rate			$		$
   Total direct labor cost			$		$	$

   5. Prepare a Budget that estimates the cost for each item of factory overhead needed to support budgeted production.factory overhead cost budget for January.

   Birds of a Feather Inc. Factory Overhead Cost Budget For the Month Ending January 31
   	Indirect factory wages
   	Depreciation of plant and equipment
   	Power and light
   	Insurance and property tax
   	Total	$

   6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January is estimated to be $29,000, and work in process at the end of January is estimated to be $35,400.

   Birds of a Feather Inc. Cost of Goods Sold Budget For the Month Ending January 31
   Direct materials inventory, January 1 Direct materials inventory, January 31 Direct materials purchases Factory Overhead Finished goods inventory, January 1 Finished goods inventory, January 31
   Direct materials inventory, January 1 Direct materials inventory, January 31 Direct materials purchases Factory Overhead Work in process inventory, January 1 Work in process inventory, January 31
   Direct materials:
   Direct materials inventory, January 1 Direct materials inventory, January 31 Finished goods inventory, January 1 Finished goods inventory, January 31 Work in process inventory, January 1 Work in process inventory, January 31
   Direct labor Direct materials purchases Factory overhead Finished goods inventory, January 31 Work in process inventory, January 1 Work in process inventory, January 31
   Cost of direct materials available for use
   Less: Direct materials inventory, January 1 Less: Direct materials inventory, January 31 Less: Finished goods inventory, January 1 Less: Finished goods inventory, January 31 Less: Work in process inventory, January 1 Less: Work in process inventory, January 31
   Cost of direct materials placed in production
   Direct labor Direct materials purchases Finished goods inventory, January 1 Finished goods inventory, January 31 Work in process inventory, January 1 Work in process inventory, January 31
   Direct materials purchases Factory overhead Finished goods inventory, January 1 Finished goods inventory, January 31 Work in process inventory, January 1 Work in process inventory, January 31
   Total manufacturing costs
   Total work in process during the period
   Less: Direct materials inventory, January 1 Less: Direct materials inventory, January 31 Less: Finished goods inventory, January 1 Less: Finished goods inventory, January 31 Less: Work in process inventory, January 1 Less: Work in process inventory, January 31
   Cost of goods manufactured
   Cost of finished goods available for sale
   Less: Direct materials inventory, January 1 Less: Direct materials inventory, January 31 Less: Finished goods inventory, January 1 Less: Finished goods inventory, January 31 Less: Work in process inventory, January 1 Less: Work in process inventory, January 31
   Cost of goods sold			$

   7. Prepare a selling and administrative expenses budget for January.

   Birds of a Feather Inc. Selling and Administrative Expenses Budget For the Month Ending January 31
   Selling expenses:
   	Sales salaries expense
   	Advertising expense
   	Telephone expenseselling
   	Travel expenseselling
   	Total selling expenses
   Administrative expenses:
   	Office salaries expense
   	Depreciation expenseoffice equipment
   	Telephone expenseadministrative
   	Office supplies expense
   	Miscellaneous administrative expense
   	Total administrative expenses
   Total operating expenses			$

   8. Prepare a budgeted income statement for January.

   Birds of a Feather Inc. Budgeted Income Statement For the Month Ending January 31
   Gross profit Income before income tax Interest expense Interest revenue Revenue from sales
   Administrative expenses Cost of goods sold Income tax expense Interest expense Selling expenses
   Gross profit Interest revenue Net income Net loss Revenue from sales
   Selling and administrative expenses:
   	Cost of goods sold Income tax expense Interest expense Net loss Selling expenses
   	Administrative expenses Gross profit Income tax expense Interest expense Interest revenue
   	Total selling and administrative expenses
   Income from operations Loss from operations
   Other revenue:
   	Gross profit Interest revenue Interest expense Net income Revenue from sales
   Other expenses:
   	Cost of goods sold Income tax expense Interest expense Net loss Selling expenses
   Income before income tax Loss before income tax
   Cost of goods sold Income tax (30% rate) Interest expense
   Gross profit Net loss Net income			$

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