Question: ASAP PLEASE I WILL GIVE THUMBS UP!! Answer- Prepare for January 2023: -Cost of goods sold budget. Work in process at the beginning of January

ASAP PLEASE I WILL GIVE THUMBS UP!!

2023: -Cost of goods sold budget. Work in process at the beginning

Answer- Prepare for January 2023:

-Cost of goods sold budget. Work in process at the beginning of January estimated to

be $25,000, and work in process at the end of January desired to be $30,000.

-Selling and administrative expenses budget

- Prepare a budgeted income statement

The Budget director of Sunhelmet Corp., with your assistance, has gathered the following data for use in developing the budgeted income statement for January 2023: A. Estimated sales for January: Batting helmet. 5,000 units at $60 per unit Football helmet. 4,000 units at $160 per unit B. Estimated inventories (beginning) at January 1: Direct materials: Plastic............ 400 lbs. Foam lining...... 500 lbs. Finished products: Batting helmet... 600 units at $30 per unit Football helmet... 350 units at $90 per unit C. Desired inventories (ending) at January 31 : D. Direct materials used in production: In manufacture of batting helmet: Plastic....................................... 1.20 lbs. per unit of product Foam lining.................................. 50 lbs. per unit of product In manufacture of football helmet: Plastic........................................... 3.50lbs. per unit of product E. Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic.. $8.10 per lb. Foam lining. $5.60 per Ib. The Budget director of Sunhelmet Corp., with your assistance, has gathered the following data for use in developing the budgeted income statement for January 2023: A. Estimated sales for January: Batting helmet.. 5,000 units at $60 per unit Football helmet 4,000 units at $160 per unit B. Estimated inventories (beginning) at January 1: Direct materials: Plastic........... 400 lbs. Foam lining...... 500 lbs. Finished products: Batting helmet... 600 units at $30 per unit Football helmet... 350 units at $90 per unit C. Desired inventories (ending) at January 31: D. Direct materials used in production: In manufacture of batting helmet: Plastic....................................... 1.20lbs per unit of product Foam lining. .50 lbs. per unit of product In manufacture of football helmet: Plastic.......................................... 3.50lbs. per unit of product Foam lining. 1.501bs. per unit of product E. Anticipated cost of purchases and beginning and ending inventory of direct materials: Foam lining. $5.60 per Ib

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