1. Multiperiod budgeted income statement and supporting budgets Bellaire Inc. gathered the
following data for use in developing the budgets for the first quarter (Janiuary, February, March)
of its fiscal year: a. Estimated sales at $125 per unit: b. Estimated finished goods inventories: c.
Work in process imventories are estimated to be insignificant (zero). d. Estimated direct
materials inventories:
d. Estimated direct materials inventories: e. Manufacturing costs:
6. Prepare a cost of goods sold budget for the first quarter. For those boxes in which you must
enter subtracted or negative numbers use a minus sign. Bellaire Inc. Cost of Goods Sold Budget
For the First Quarter Ending March 31
7. Prepare a selling and administrative expenses budget for the first quarter. Enter all amounts as
positive number.
8. Prepare a budgeted income statement with budgeted operating income for the first quarter. For
those boxes in which you must enter gubtracted or negative numbers use a minus sign.