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Axiom Mobile Plus company approached you as Management Accounting expert to assist them in preparing their 2013 budget. They provided you with the following data: Expected number of units to be sold in 2013 Model 1: 15,000 units Model 2: 10,000 units Expected selling Price Model 1: $250 Model 2: $200 Each model requires 5 components (camera, keypad, screen, frame, and motherboard). Model 1 has 2 cameras, while model 2 has only 1 camera. Component prices are as follows: Camera: $15 Keypads: $10 Screen: $20 Frame: $3 Motherboard: $12 The company already had a beginning inventory of 3,000 units of each of the above components at a cost of: Camera: $15 Keypads: $10 Screen: $20 Frame: $3 Motherboard: $12 No ending inventory of any component item or finished goods is required. Both Mobile models need 5.5 hours of labor at a cost of $5.00 per hour. Overhead is allocated at a rate of $15 per direct labor hour.
Required:
Prepare the following:
1) Sales Budget.
2) Component Budget.
3) Direct Labor Budget.
4) An overhead Budget.
5) Prepare a budgeted partial income statement till "Gross Profit Line".
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