A B C D E All questions on this assignment pertain to SB Manufacturing (SBM). SBM is a manufacturing 2 company that makes two products, P1 and P2 The objective of this assignment is to work 3 through various component of SBM's Sales and Production budgets for 2023 4 5 PART 1 6 DATA 2023 projected sales: 8 Product Sales (units) Price (each) P1 51,000 $70.00 P2 86,000 $75.00 .1 2 2023 projected Finished Goods inventory balance (units) .3 Product 1/1/2023 12/31/2023 14 P1 10,000 12,000 15 P2 18,000 17,000 16 .7 Calculate the following forecasts based upon the above data 8 19 Q1 Forecast Revenues from Product 1 (P1) $3,570,000 Q2 Forecast Revenues from Product 2 (P2) $6,450,000 Q3 Forecast Total Revenues $10,020,000 14 25 Q4 How many units of P1 should SBM manufacture in 2023? 53,000 16 27 Q5 How many units of P2 should SBM manufacture in 2023? 85,000A B C D E F G H 29 PART 2 30 Assume all sales occur evenly during the year, i.e., each month represents 1/12th of 31 annual sales (as estimated for Q3). All sales are made on account and the following additional 32 information pertaining to Accounts Receivable is used for budgeting purposes: 33 $4 Sales by month in 2022 35 November Sales 750,000 36 December Sales 700,000 37 38 Accounts Receivable Collection Schedule as % of Sales In month of Sale 45% 10 In month following the Sale 30% 41 In the 2nd month following the Sale 20% 42 Expected Bad Debts 5% 43 44 Complete the following Cash Collections Schedule on Sales for Q1 2023 in order to answer 45 Questions 6, 7, and 8. 46 Accounts Amount Collected in 47 Month of Sale Receivable January February March November 750,000 $ 150,000 - 19 December 700,000 210,000 140,000 I 60 January $835,000 $ 375,750 250,000 $ 167,000 51 February $835,000 375,750 $ 250,500 52 March $835,000 Total Cash Collected $ 735,750 $ 765,750 $ 417,500 $ 1,792,000 105 These costs are divided into two cost pools and are assigned to WIP based 105 on the use of redetermined rates. These are Plant-wide rates. 1031 Percent of 108 OH Cost Pool Cost Driver Total Overhead 109 1) Machinery and Facilities Activity Total Machine Hours 40% 110 2 Personnel and Schedulin Activit Total Direct Labor Hours 60% :1: Q21 The amount of budgeted MFG overhead assigned to machinery & facilities is? :1: Q22 The amount of budgeted MFG overhead assigned to personnel & scheduling is? :1: Q23 The predetermined OH rate for machinery & facilities is? :1; Q24 The predetermined OH rate for personnel & scheduling is? 1:19} Q25 The amount of machinery & facilites OH assigned to Product P1 is? 1:: Q26 The amount of personnel & scheduling OH assigned to Product P1 is? 4'1"