I needed help solving #6 & #8! Thank you!

Budgeted Income Statement and Supporting Budgets The budget director of Birding Homes & Feeders Inc., 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 January: a. Estimated sales for January: Bird house 15,000 units at $25 per unit Bird feeder 40,000 units at $15 per unit b. Estimated inventories at January 1: Direct materials: 600 ft. Plastic 1,000 lbs. Wood Finished products: Bird house 1,000 units at $15 per unit 2,500 units at $8 per unit Bird feeder c. Desired inventories at January 31: Direct materials: Wood Plastic 500 ft. 1,250 lbs. Finished products: Bird house 1,500 units at $15 per unit 3,000 units at $8 per unit Bird feeder d. Direct materials used in production: In manufacture of Bird House: Wood 0.80 ft. per unit of product 0.10 lb. per unit of product Plastic In manufacture of Bird Feeder: 0.20 ft. per unit Wood of product 1.00 lb. per unit Plastic of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Wood $2.50 per ft. Plastic $0.80 per lb. f. Direct labor requirements: Bird House: 0.40 hr. at $18 Fabrication Department per hr 0.20 hr. at $12 Assembly Department per hr Bird Feeder: of product Plastic 0.10 lb, per unit of product In manufacture of Bird Feeder: 0.20 ft. per unit Wood of product 1.00 lb. per unit Plastic of product e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Wood $2.50 per ft. Plastic $0.80 per lb. f. Direct labor requirements: Bird House: Fabrication Department 0.40 hr at $18 per hr. 0.20 hr. at $12 per hr Assembly Department Bird Feeder: Fabrication Department 0.25 hr. at $18 per hr. 0.10 hr. at $12 per hr $40,000 20,000 10,000 5,000 $125,000 Assembly Department g. Estimated factory overhead costs for January Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax h. Estimated operating expenses for January: Sales salaries expense Advertising expense Office salaries expense Depreciation expense-office equipment Travel expense-selling Office supplies expense Miscellaneous administrative expense i. Estimated other revenue and expense for January: Interest revenue Interest expense j. Estimated tax rate: 25% 80,000 40,000 4,000 25,000 2.500 3,500 $4,540 3,000 Required: 1. Prepare a sales budget for January Birding Homes & Feeders Inc. Sales Budget For the Month Ending January 31 Birding Homes & Feeders Inc. Sales Budget For the Month Ending January 31 Unit Sales Unit Selling Volume Price 15,000 ss Total Sales Bird house 25 375,000 Bird feeder 40,000 15 600,000 Total revenue from sales SS 975,000 2. Prepare a production budget for January. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Birding Homes & Feeders Inc. Production Budget For the Month Ending January 31 Units Bird House Bird Feeder 40,000 Expected units to be sold 15,000 1,500 3,000 16,500 43,000 Desired inventory, January 31 Total units available Estimated inventory, January 1 Total units to be produced -1,000 -2,500 15,500 40,500 3. Prepare a direct materials purchases budget for January. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Birding Homes & Feeders Inc. Direct Materials Purchases Budget For the Month Ending January 31 Wood Plastic Total Required units for production: Bird house 12,400 1,550 Bird feeder 8,100 40,500 500 1,250 21,000 43,300 Desired units of inventory, January 31 Total units available Estimated units of inventory, January 1 Total units to be purchased -600 -1,000 20,400 42,300 Unit price S x$ 2.50 S X$ 0.80 Total direct materials to be purchased S $ 51,000 un 33,840 SS 84,840 Fabrication Department Assembly Department Total Hours required for production: Bird house 6,200 3,100 Bird Feeder 10,125 4,050 Total 16,325 7,150 Hourly rate 5 XS 18 5 Xs 12 Total direct labor cost $ $ 293,850 $ $ 85,800 $ 379,650 5. Prepare a factory overhead cost budget for January Birding Homes & Feeders Inc. Factory Overhead Cost Budget For the Month Ending January 31 Indirect factory wages 40,000 Depreciation of plant and equipment 20,000 Power and light 10,000 Insurance and property tax 5,000 Total factory overhead cost 75,000 6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January is estimated to be $9,000, and work in process at the end of January is estimated to be $10,500. For those boxes in which you must enter subtracted or negative numbers use a minus sig Birding Homes & Feeders Inc. Cost of Goods Sold Budget For the Month Ending January 31 $s Direct materials: $$ 51,250 x 33,604 x Cost of direct materials available for use $ $ Cost of direct materials placed in production $ $ Total manufacturing costs Total work in process during period $$ III Cost of goods manufactured Cost of finished goods available for sale $$ Cost of goods sold $$ 7. Prepare a selling and administrative expenses budget for January. Birding Homes & Feeders Inc. Selling and Administrative Expenses Budget For the Month Ending January 31 Selling expenses Sales salaries expense s$ 125,000 Advertising expense 80,000 Travel expense-selling 25,000 Total selling expenses Administrative expenses: Office salaries expense S$ 40,000 Depreciation expense-office equipment 4,000 Office supplies expense 2,500 Miscellaneous administrative expense 3,500 $ 230,000 Total administrative expenses 50,000 Total operating expenses S$ 280,000 8. Prepare a budgeted income statement for January. In the other revenue and expense section, indicate expenses as negative amounts. Birding Homes & Feeders Inc. Budgeted Income Statement For the Month Ending January 31 $$ 84,854 X 37,000 X S$ 75,000 X Operating expenses: S$ 230,000 50,000 Total operating expenses 280,000 Operating income $ $ Other revenue and expense: S Income before income tax $$ 498,146 Income tax expense 124,536. X Net income SS 373,609. X