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 b. Estimated inventories at March 1: Direct materials: Plastic.......... Foam lining... 90 lb. 80 lb. Direct materials: Plastic..... Foam lining......... c. Desired inventories at March 31: 50 lb. 65 lb. Finished products: In manufacture of batting helmet: Plastic........ Foam lining.. In manufacture of football helmet: Plastic..... Foam lining.. Batting helmet......... Football helmet....... d. Direct materials used in production: 1,200 units at $40 per unit 6,500 units at $160 per unit Finished products: Batting helmet......... Football helmet..... Excel ..... 40 units at $25 per unit 240 units at $77 per unit 50 units at $25 per unit 220 units at $78 per unit 1.20 lb. per unit of product 0.50 lb. per unit of product 3.50 lb. per unit of product 1.50 lb. per unit of product + e. Anticipated cost of purchases and beginning and ending inventory of direct materials: Plastic... Foam lining. f. Direct labor requirements: Batting helmet: Molding Department... Assembly Department.. Football helmet: Molding Department.. Assembly Department. g. Estimated factory overhead costs for March: Indirect factory wages Depreciation of plant and equipment $86,000 12,000 h. Estimated operating expenses for March: Sales salaries expense Advertising expense Office salaries expense Depreciation expense-office equipment Telephone expense-selling Telephone expense-administrative Travel expense-selling Office supplies expense Miscellaneous administrative expense $6.00 per lb. $4.00 per lb. Interest revenue Interest expense j. Estimated tax rate: 30% i. Estimated other income and expense for March: $940 872 $184,300 87,200 32,400 3,800 5,800 1,200 9,000 1,100 1,000 0.20 hr. at $20 per hr. 0.50 hr. at $14 per hr. Power and light Insurance and property tax 0.50 hr. at $20 per hr. 1.80 hrs. at $14 per hr. $4,000 2,300