Hello i have attached two pictures. They are both used together to answer the question. The first picture is the information to use too answer the question. The second attachment is the for the answer. I hope it is understandable and whoever answer this can please explain how they got the answers. I need the help. I have marked a yellow x on what i have done already. I DO NOT NEED HELP WITH WHAT IS CROSSED IN YELLOW (PARTS 1-3) I NEED PARTS 4-6. THIS IS IS IS THE ANSWER TO PARTS 1-3 Analysis and Calculation:1)Gold Medal Athletic Co., Sales Budget:For the month ended March:ProductSales VolumeSale Price per unitSales, $Batting helmet 1,200 units$40 $ 48,000Football helmet 6,500 units$160 $1,040,000Total revenue from sales $ 1,088,000 2)Production Budget: BattingFootball HelmetHelmetExpected units to be sold 1,200 6,500Add: desired Ending inventory 50 220Total 1,250 6,720Less: Beginning estimated inventory 40 240Total units to be produced 1,210 6,480 Direct Material Purchase Budget: PlasticFoam Lining (lbs.) (lbs.)TotalRequired units for production: Batting helmet 1,452 605 Football helmet 22,680 9,720 Add: ending desired inventory of Raw material 50 65 Total 24,182 10,390 Less: estimated inventory, beginning Raw material 90 80 Total units to be purchased, (a) 24,092 10,310 Unit price, (b)$6.00$4.00 Total direct materials to be purchased, (a * b) $ 144,552 $ 41,240 $ 185,792 ---### PR 22-3B: Budgeted Income Statement and Supporting Budgets**Objective: 4**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**: 1,200 units at $40 per unit- **Football Helmet**: 6,500 units at $160 per unit*(Continued)*#### b. Estimated Inventories at March 1:- **Direct Materials**: - Plastic: 90 lbs - Foam Lining: 80 lbs- **Finished Products**: - Batting Helmet: 40 units at $25 per unit - Football Helmet: 240 units at $77 per unit#### c. Desired Inventories at March 31:- **Direct Materials**: - Plastic: 50 lbs - Foam Lining: 65 lbs- **Finished Products**: - Batting Helmet: 50 units at $25 per unit - Football Helmet: 220 units at $77 per unit#### d. Direct Materials Used in Production:In manufacture of batting helmet:- Plastic: 1.20 lbs per unit of product- Foam Lining: 0.50 lbs per unit of productIn manufacture of football helmet:- Plastic: 3.50 lbs per unit of product- Foam Lining: 1.50 lbs per unit of product#### e. Anticipated Cost of Purchases and Beginning and Ending Inventory of Direct Materials:- Plastic: $6.00 per lb- Foam Lining: $4.00 per lb#### f. Direct Labor Requirements:- **Batting Helmet**: - Molding Department: 0.20 hr. at $20 per hr. - Assembly Department: 0.50 hr. at $14 per hr.- **Football Helmet**: - Molding Department: 0.50 hr. at $20 per hr. - Assembly Department: 1.80 hrs. at $14 per hr.#### g. Estimated Factory Overhead Costs for March:- Indirect factory wages: $86,000- Depreciation of plant and equipment: $12,000- ---**Gold Medal Athletic Co. Budget Overview for March 31**---### 1. Selling and Administrative Expenses Budget**For the Month Ending March 31****Selling Expenses:**- [Specific selling expenses line items] - Total selling expenses: **Administrative Expenses:**- [Specific administrative expenses line items]- Total administrative expenses: **Total Operating Expenses:**- Total operating expenses: ---### 2. Budgeted Income Statement**For the Month Ending March 31****Revenue From Sales:****Cost of Goods Sold:**- Revenue from sales- Cost of goods sold **Gross Profit:****Operating Expenses:**- Selling expenses - Administrative expenses - Total operating expenses: **Income From Operations:****Other Revenue and Expense:**- Interest revenue- Interest expense- Income before income tax- Income tax expense- Net income ---### Explanation of the Diagrams and Graphs:The page on the right side contains multiple sections, but the top portion is marked with a large yellow "X", indicating that those sections are either not applicable or not to be considered.### Notable Diagrams:- **Section 1: Sales and Production Data** - Includes unit sales and total sales across several segments.- **Section 2: Expected Costs and Production** - Expected costs for production and total units to be produced are laid out.- **Section 3: Purchase and Inventory Requirements** - Focuses on the raw materials needed for production along with the beginning and ending inventories.- **Section 4: Labor Costs** - Details on the labor hours required for production, along with total direct labor costs.- **Section 5: Factory Overhead Costs** - Indirect factory expenses and depreciation costs of plant and equipment.- **Section 6: Comprehensive Cost of Goods Sold Budget** - This section includes direct materials, direct labor, and overhead costs. - Also illustrates beginning and ending inventory calculations. ### Summary:Each of these segments helps provide a detailed look into Gold Medal Athletic Co.'s financial planning, focusing on both income and expenses for the month ending March 31. The detailed budget statements ensure a clear view of operational expenses, cost of goods sold, and anticipated profits.

A budget is a financial plan which is associated with future. It could be prepared for the…

Hello i have attached two pictures. They are both used together to answer the question. The first picture is the information to use too answer the question. The second attachment is the for the answer. I hope it is understandable and whoever answer this can please explain how they got the answers. I need the help. I have marked a yellow x on what i have done already. I DO NOT NEED HELP WITH WHAT IS CROSSED IN YELLOW (PARTS 1-3) I NEED PARTS 4-6. THIS IS IS IS THE ANSWER TO PARTS 1-3 Analysis and Calculation: 1) Gold Medal Athletic Co., Sales Budget: For the month ended March: Product Sales Volume Sale Price per unit Sales, $ Batting helmet 1,200 units $40 $ 48,000 Football helmet 6,500 units $160 $1,040,000 Total revenue from sales $ 1,088,000 2) Production Budget: Batting Football Helmet Helmet Expected units to be sold 1,200 6,500 Add: desired Ending inventory 50 220 Total 1,250 6,720 Less: Beginning estimated inventory 40 240 Total units to be produced 1,210 6,480 Direct Material Purchase Budget: Plastic Foam Lining (lbs.) (lbs.) Total Required units for production: Batting helmet 1,452 605 Football helmet 22,680 9,720 Add: ending desired inventory of Raw material 50 65 Total 24,182 10,390 Less: estimated inventory, beginning Raw material 90 80 Total units to be purchased, (a) 24,092 10,310 Unit price, (b) $6.00 $4.00 Total direct materials to be purchased, (a * b) $ 144,552

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

	Batting	Football
	Helmet	Helmet
Expected units to be sold	1,200	6,500
Add: desired Ending inventory	50	220
Total	1,250	6,720
Less: Beginning estimated inventory	40	240
Total units to be produced	1,210	6,480

	Plastic	Foam Lining
	(lbs.)	(lbs.)	Total
Required units for production:
Batting helmet	1,452	605
Football helmet	22,680	9,720
Add: ending desired inventory of Raw material	50	65
Total	24,182	10,390
Less: estimated inventory, beginning Raw material	90	80
Total units to be purchased, (a)	24,092	10,310
Unit price, (b)	$6.00	$4.00
Total direct materials to be purchased, (a * b)	$ 144,552	$ 41,240	$ 185,792