Question

1. What price will you sell your repackage product? Make predictions of your sales in units in which of the upcoming three months.

2. Estimate how many hours you spend in each of the upcoming three months doing the purchasing, the packaging, and selling. Select a reasonable wage rate for yourself. What will your total labor cost be in which of the upcoming three months?
3. Prepare a sales budget for each of the upcoming three months.
4. Prepare the direct material budgets for the upcoming three months, assuming that you need to keep 10% of the direct materials needed for the next month sales on hand at the end of each month.
5. Prepare a direct labor budget(for your labor) for each of the upcoming three months.
6. Think about any other expenses you are likely to have. Prepare the operating expenses budget for each of the upcoming three months.
7. Prepare a budgeted income statement that reflects the budgets you prepared, including the sales budget, direct materials budget, direct labor budget, in the operating expenses budget. This budgeted income statement should include one column for each of the three months in the quarter, and it should also include a total column presents the totals of the three months. What is your projected profit by month and for the quarter?

Answer 1

1. to decide on what price should i or anyone sell his goods involve to much analysing and observing  

firstly the total cost incurred in maufacturing or till able to make it avalaible for use by consumers.. how much cost incurred in that estimate it... then u can have a estimate to sell the. product

then you have to decide what would be the profit margin as no one do the charity,  

then market condition of that product would be a matter of fact

and also competetors strategy will comply your product sales

after analysing these steps u can finalyse the sale. price. no one can. predict without factors that what will be the sale price .

3)

  

5)

2) wages are set in india according to wages act 1948, this can be set in acvordance to analyse working hours, allowance given like house allowance or bills payed and much more. the capability to do work and skills under them.