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## 01 Jul Budgets are very important for decision-making ?How can the budgets that you developed help influence decisions? WRDFinMan14e_PR7-3A1.xlsx

250 words. NOTE please see the attachment below. Please complete the attachment.

Using the attached Excel template, complete and upload PR 7-3A and answer the following question:

• Budgets are very important for decision-making.  How can the budgets that you developed help influence decisions?

## Sol

Problem 21(7)-3A
Name: Solution
Section:
Score: ON
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
1.
Feathered Friends Inc.
Sales Budget
For the Month Ending December 31
Unit Sales Unit Selling Total
Product Volume Price Sales
Bird house 3,200 \$50.00 \$ 160,000
Bird feeder 3,000 \$70.00 210,000
Total revenue from sales \$ 370,000
2.
Feathered Friends Inc.
Production Budget
For the Month Ending December 31
Units
Bird Bird
House Feeder
Expected units to be sold 3,200 3,000 Estimated inventory, Dec. 31
Desired inventory, Dec. 31 290 250 Estimated inventory, Dec. 1
Total 3,490 3,250 Desired inventory, Dec. 31
Estimated inventory, Dec. 1 (320) (270) Desired inventory, Dec. 1
Total units to be produced 3,170 2,980
3.
Feathered Friends Inc.
Direct Materials Purchases Budget
For the Month Ending December 31
Wood Plastic
(feet) (lbs.) Total
Required units for production:
Bird house 2,536
Mark Sears: Enter a formula of units to be produced from production budget x amount of materials.
1,585
Bird feeder 3,576 2,235
Desired inventory, Dec. 31 220 200
Total 6,332 4,020
Estimated inventory, Dec. 1 (200) (240)
Total units to be purchased 6,132 3,780
Unit price \$7.00 \$1.00
Total direct materials to be purchased \$ 42,924 \$ 3,780 \$ 46,704
4.
Feathered Friends Inc.
Direct Labor Cost Budget
For the Month Ending December 31
Fabrication Assembly
Department Department Total
Hours required for production:
Bird house 634
Mark Sears: Enter a formula of units from production budget x hours per unit.
951
Bird feeder 1,192 1,043
Total 1,826 1,994
Hourly rate \$16.00 \$12.00
Total direct labor cost \$ 29,216 \$ 23,928 \$ 53,144
5.
Feathered Friends Inc.
For the Month Ending December 31
Indirect factory wages \$ 75,000
Depreciation of plant and equipment 23,000
Power and light 6,000
Insurance and property tax 5,000
Total \$ 109,000
Finished goods inventory, Dec. 1
Finished goods inventory, Dec. 31
6. Work in process, Dec. 1
Feathered Friends Inc. Work in process, Dec. 31
Cost of Goods Sold Budget Direct materials inventory, Dec. 1
For the Month Ending December 31 Direct materials inventory, Dec. 31
Finished goods inventory, Dec. 1 \$ 19,440
Work in process, Dec. 1 \$ 29,000
Direct materials:

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