An asterisk (*) will appear to the right of an incorrect entry.
1.
Unit Sales Unit Selling Total
Product Volume Price Sales
Bird house
Bird feeder
Total revenue from sales
2.
Bird Bird
House Feeder
Expected units to be sold
Total
Total units to be produced
3.
Wood Plastic
(feet) (lbs.) Total
Required units for production:
Bird house
Bird feeder
Total
Total units to be purchased
Unit price
Total direct materials to be purchased
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[Key code here]
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Instructions
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FEATHERED FRIENDS INC.
Sales Budget
For the Month Ending December 31, 2014
Problem 21(6)-3A
Name:
Section:
FEATHERED FRIENDS INC.
Direct Materials Purchases Budget
FEATHERED FRIENDS INC.
Production Budget
For the Month Ending December 31, 2014
For the Month Ending December 31, 2014
4.
Fabrication Assembly
Department Department Total
Hours required for production:
Bird house
Bird feeder
Total
Hourly rate
Total direct labor cost
5.
Indirect factory wages
Depreciation of plant and equipment
Power and light
Insurance and property tax
Total
6.
Direct materials:
Direct materials purchases
Cost of direct materials available for use
Cost of direct materials placed in production
Direct labor
Factory overhead
Total manufacturing costs
Total work in process during period
Cost of goods manufactured
Cost of finished goods available for sale
Cost of goods sold
Supporting calculations:
Units Cost Total
Finished goods inventory, Dec. 1, 2014:
Bird house
Bird feeder
Total
Direct Labor Cost Budget
For the Month Ending December 31, 2014
FEATHERED FRIENDS INC.
Factory Overhead Cost Budget
FEATHERED FRIENDS INC.
For the Month Ending December 31, 2014
FEATHERED FRIENDS INC.
Cost of Goods Sold Budget
For the Month Ending December 31, 2014
Finished goods inventory, Dec. 31, 2014:
Bird house
Bird feeder
Total
Direct materials inventory, December 1, 2014
Wood
Plastic
Total
Direct materials inventory, December 31, 2014
Wood
Plastic
Total
7.
Selling expenses:
Total selling expenses
Administrative expenses:
Total administrative expenses
Total operating expenses
8.
Revenue from sales
Cost of goods sold
Gross profit
Operating expenses:
Selling expenses
Administrative expenses
Total operating expenses
Income from operations
Other income
Interest revenue
Other expense:
Interest expense
Income before income tax
Income tax expense
Net income
Budgeted Income Statement
For the Month Ending December 31, 2014
FEATHERED FRIENDS INC.
FEATHERED FRIENDS INC.
Selling and Administrative Expenses Budget
For the Month Ending December 31, 2014
An asterisk (*) will appear to the right of an incorrect entry.
1.
Unit Sales Unit Selling Total
Product Volume Price Sales
Bird house 3,200 $50.00 160,000$
2.
Bird Bird
House Feeder
Expected units to be sold 3,200 3,000
3.
Wood Plastic
(feet) (lbs.) Total
Required units for production:
Bird house 2,536 1,585
FEATHERED FRIENDS INC.
Direct Materials Purchases Budget
Problem 21-3A
Name:
Solution
Section:
Score:
Instructions
FEATHERED FRIENDS INC.
Sales Budget
For the Month Ending December 31, 2014
Cells with non-gray backgrounds are protected and cannot be edited.
ON
FEATHERED FRIENDS INC.
Production Budget
For the Month Ending December 31, 2014
Answers are entered in the cells with gray backgrounds.
Units
For the Month Ending December 31, 2014
4.
Fabrication Assembly
Department Department Total
Hours required for production:
Bird house 634 951
5.
Indirect factory wages 75,000$
6.
Finished goods inventory, Dec. 31, 2014
Work in process, Dec. 1, 2014
19,440$
FEATHERED FRIENDS INC.
Cost of Goods Sold Budget
For the Month Ending December 31, 2014
Finished goods inventory, Dec. 1, 2014
FEATHERED FRIENDS INC.
Factory Overhead Cost Budget
For the Month Ending December 31, 2014
FEATHERED FRIENDS INC.
Direct Labor Cost Budget
For the Month Ending December 31, 2014
7.
Selling expenses:
Advertising expense
Travel expense – selling
Telephone expense – selling
Office salaries expense
Depr. expense – office equip.
Telephone expense – administrative
Office supplies expense
70,000$
8.
Revenue from sales 370,000$
Budgeted Income Statement
For the Month Ending December 31, 2014
Sales salaries expense
FEATHERED FRIENDS INC.
Selling and Administrative Expenses Budget
For the Month Ending December 31, 2014
FEATHERED FRIENDS INC.