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: a. Estimated sales for March: Batting helmet Football helmet 1,200 units at $40 per unit 6,500 units at $160 per unit b. Estimated inventories at March 1: Direct materials: Plastic Foam lining Finished products: Batting helmet Football helmet c. Desired inventories at March 31: Direct materials: 90 lb. 80 lb. 40 units at $25 per unit 240 units at $77 per unit Plastic 50 lb. Foam lining Finished products: Batting helmet 65 lb. 50 units at $25 per unit
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: a. Estimated sales for March: Batting helmet Football helmet 1,200 units at $40 per unit 6,500 units at $160 per unit b. Estimated inventories at March 1: Direct materials: Plastic Foam lining Finished products: Batting helmet Football helmet c. Desired inventories at March 31: Direct materials: 90 lb. 80 lb. 40 units at $25 per unit 240 units at $77 per unit Plastic 50 lb. Foam lining Finished products: Batting helmet 65 lb. 50 units at $25 per unit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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:
a. Estimated sales for March:
Batting helmet
Football helmet
1,200 units at $40 per unit
6,500 units at $160 per unit
b. Estimated inventories at March 1:
Direct materials:
Plastic
Foam lining
Finished products:
Batting helmet
Football helmet
c. Desired inventories at March 31:
Direct materials:
90 lb.
80 lb.
40 units at $25 per unit
240 units at $77 per unit
Plastic
50 lb.
Foam lining
Finished products:
Batting helmet
65 lb.
50 units at $25 per unit
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