Question: I need help specifically with section 6 and 8 Budgeted Income Statement and Supporting Budgets The budget director of Gold Medal Athletic Co., with the
I need help specifically with section 6 and 8







Budgeted Income Statement and Supporting Budgets The budget director of Gold Medal Athletic Co., 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 March 2014 a. Estimated sales for March Batting helmet ,200 units at $40 per unit Football helmet 6,500 units at $160 per unit b. Estimated inventories at March 1: Direct materials: Finished products: Plastic 900 lbs. Batting helmet 40 units at $25 per unit 80 lbs Football helmet....... 240 units at $77 per unit Foam lining c Desired inventories at March 31 Direct materials: Finished products: Batting helmet 50 units at $25 per unit Plastic 50 lbs. Foam ning 65 lbs. Football helmet 220 units at $78 per unit d. Direct materials used in production: In manufacture of batting helmet: Plastic 20 lbs. per unit of product Foam lining 0.50 lb. per unit of product In manufacture of football helmet: Plastic 350 lbs, per unit of product Foam lining....................... 50 lbs. per unit of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic $600 per lb. Foam lining................. $4.00 per lb. f Direct labor requirements
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