An asterisk (*) will appear to the right of an incorrect entry.
1.
Unit Sales Unit Selling Total
Product Volume Price Sales
2.
Batting Football
Helmet Helmet
Expected units to be sold
Total units available
Total units to be produced
3.
Plastic Foam Lining
(lbs.) (lbs.) Total
Required units for production:
Batting helmet
Football helmet
Total units available
For the Month Ending March 31
Gold Medal Athletic Co.
Direct Materials Purchases Budget
Problem 22(8)-3B
Name:
Section:
Gold Medal Athletic Co.
Production Budget
For the Month Ending March 31
Units
0%
Gold Medal Athletic Co.
Sales Budget
For the Month Ending March 31
Cells with non-gray backgrounds are protected and cannot be edited.
Answers are entered in the cells with gray backgrounds.
Instructions
Score:
Key Code:
Total units to be purchased
Unit price
Total direct materials to be purchased
4.
Molding Assembly
Department Department Total
Hours required for production:
Batting helmet
Football helmet
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
Gold Medal Athletic Co.
Cost of Goods Sold Budget
For the Month Ending March 31
Gold Medal Athletic Co.
Factory Overhead Cost Budget
For the Month Ending March 31
Direct Labor Cost Budget
For the Month Ending March 31
Gold Medal Athletic Co.
Cost of goods sold
Supporting calculations:
Units Cost Total
Finished goods inventory, March 1:
Batting helmet
Football helmet
Total
Finished goods inventory, March 31:
Batting helmet
Football helmet
Total
Direct materials inventory, March 1
Plastic
Foam lining
Total
Direct materials inventory, March 31
Plastic
Foam lining
Total
7.
Selling expenses:
Total selling expenses
Administrative expenses:
Total administrative expenses
Total operating expenses
8.
Gold Medal Athletic Co.
Budgeted Income Statement
For the Month Ending March 31
Selling and Administrative Expenses Budget
For the Month Ending March 31
Gold Medal Athletic Co.
Gross profit
Operating expenses:
Selling expenses
Administrative expenses
Total operating expenses
Operating income
Other revenue and expense:
Interest revenue
Interest expense
Income before income tax
Income tax expense
Net income
An asterisk (*) will appear to the right of an incorrect entry.
1.
Unit Sales Unit Selling Total
Product Volume Price Sales
2.
Batting Football
3.
Plastic Foam Lining
(lbs.) (lbs.) Total
For the Month Ending March 31
Gold Medal Athletic Co.
Direct Materials Purchases Budget
Gold Medal Athletic Co.
Production Budget
For the Month Ending March 31
Units
Sales Budget
For the Month Ending March 31
Problem 22(8)-3B
Name:
Solution
Section:
Answers are entered in the cells with gray backgrounds.
ON
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
Instructions
Gold Medal Athletic Co.
4.
Molding Assembly
Department Department Total
Hours required for production:
5.
6.
Gold Medal Athletic Co.
Cost of Goods Sold Budget
For the Month Ending March 31
For the Month Ending March 31
Gold Medal Athletic Co.
Direct Labor Cost Budget
For the Month Ending March 31
Gold Medal Athletic Co.
Factory Overhead Cost Budget
Supporting calculations:
Units Cost Total
Direct materials inventory, March 1
7.
Selling expenses:
8.
For the Month Ending March 31
Gold Medal Athletic Co.
Budgeted Income Statement
Selling and Administrative Expenses Budget
For the Month Ending March 31
Gold Medal Athletic Co.