Budgeted Income Statement and Supporting Budgets
The budget director of Feathered Friends Inc., 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 October 2012:
Estimated sales for October:
Estimated inventories at October 1:
Desired inventories at October 31:
Direct materials used in production:
Anticipated cost of purchases and beginning and ending inventory of direct materials:
Direct labor requirements:
Estimated factory overhead costs for October:
Estimated operating expenses for October:
Estimated other income and expense for October:
Estimated tax rate: 30%
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