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..