al cash payments for accounts payable are the supporting schedule for disbursements for fixed manufacturing and nonmanufacturing overhead. Schedule of Cash Payments for Fixed Overhead ed manufacturing overhead ed nonmanufacturing overhead al cash payments for fixed overhead pare a cash budget for January 2018. (If a box is not used in the table leave the box empty, do not select a label or e Snows, Inc. cach Budget ose from any list or enter any number in the input fields and then continue to the next question. Budgeted balances at January 31, 2018 are as follows: Cash 2 Accounts receivable ? ? 851,000 Inventory Property, plant, and equipment (net) Accounts payable Long-term liabilities Stockholders' equity ? 179.000 ? Selected budgeted information for December 2017 follows: $ Cash balance December 31, 2017 11,000 Budgeted sales 1,730,000 O LE 10 Selected budgeted information for December 2017 follows: Cash balance, December 31, 2017 $ 11,000 1,730,000 Budgeted sales Budgeted materials purchases 750,000 Customer invoices are payable within 30 days. From past experience, Snows's accountant projects 30% of invoices will be collected in the month invoiced, and 70% will be collected in the following month. Accounts payable relates only to the purchase of direct materials. Direct materials are purchased on credit with 45% of direct materials purchases paid during the month of the purchase and 55% paid in the month following purchase. w Fixed manufacturing overhead costs include $13,000 of depreciation costs and fixed nonmanufacturing overhead costs include $7,000 of depreciation costs. Direct manufacturing labour and the remaining manufacturing and nonmanufacturing overhead costs are paid monthly. O material purchases, Direct manufacturing labou and Ending inventory) - X More Info Variable manufacturing overhead is $10 per direct manufacturing labour-hour. There are also $24,000 in fixed manufacturing overhead costs budgeted for January 2018. Snows combines both variable and fixed manufacturing overhead into a single rate based on direct manufacturing labour-hours. Variable marketing costs are allocated at the rate of $260 per sales visit. The marketing plan calls for 35 sales visits during January 2018. Finally, there are $32,000 in fixed nonmanufacturing costs budgeted for January 2018 Print Done input fields and then continue to the next question Materials and Labour Requirements Direct materials Wood Fibreglass Direct manufacturing labour 8 board feet (b.f.) per snowboard 6 yards per snowboard 6 hours per snowboard Snows' CEO expects to sell 1,800 snowboards during January 2018 at an estimated retail price of $550 per board. Further, the CEO expects 2018 beginning inventory of 500 snowboards and would like to end January 2018 with 700 snowboards in stock Direct Materials Inventories Beginning Inventory 1/1/2018 Ending Inventory 1/31/2018 Wood 2,010 b.f. 1,510 b.f. Fibreglass 1,010 yards 2,500 yards Other data include: Other data include: 2017 Unit Price 2018 Unit Price $ $ Wood 31.00 per b.f. 29.00 per b.f. 5.00 per yard $ $ Fibreglass 10.00 per yard 26.00 per hour S Direct manufacturing labour 25.00 per hour The inventoriable unit cost for ending finished-goods inventory on December 31, 2017, is $240.00. Assume Snows uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Revenue Budget For January 2018 Units Selling price Total revenues Snowboards 1,800 $ 550 $ 990,000 - erence WWW Wood Fibreglass Total Physical Units Budget To be used in production 16,000 t 12,000 yards 1,510 bi 2,500 yards Add target ending inventory Total requirement 1,5 10 t. 2,010 Deduct beginning inventory 14,500 yards 1,010 yards 13.490 yards 15,500 bi Purchases to be made Cost Budget 480.500 $ 134.900 615 400 Purchases Direct Manufacturing Labour Costs Budget Output Units Produced For January 2018 DMLH per Unit Total Hours Hourly Wage Rate Total Snowboards 2,000 6 12,000 $ 26 $ 312,000 Variable manufacturing overhead costs I Total labour hours X Variable manufacturing overhead rate 12.000 10 120,000 10 = 120,000 Ending Inventories Budget For January 2018 Quantity Cost per unit Total Direct materials Wood 1,510 $ 31 $ 46,810 Fibreglass 2,500 10 25,000 Finished goods 375,200 Snowboard 700 S 536 S 447 010 Total ending inventory > O L W al cash payments for accounts payable are the supporting schedule for disbursements for fixed manufacturing and nonmanufacturing overhead. Schedule of Cash Payments for Fixed Overhead ed manufacturing overhead ed nonmanufacturing overhead al cash payments for fixed overhead pare a cash budget for January 2018. (If a box is not used in the table leave the box empty, do not select a label or e Snows, Inc. cach Budget ose from any list or enter any number in the input fields and then continue to the next question. Budgeted balances at January 31, 2018 are as follows: Cash 2 Accounts receivable ? ? 851,000 Inventory Property, plant, and equipment (net) Accounts payable Long-term liabilities Stockholders' equity ? 179.000 ? Selected budgeted information for December 2017 follows: $ Cash balance December 31, 2017 11,000 Budgeted sales 1,730,000 O LE 10 Selected budgeted information for December 2017 follows: Cash balance, December 31, 2017 $ 11,000 1,730,000 Budgeted sales Budgeted materials purchases 750,000 Customer invoices are payable within 30 days. From past experience, Snows's accountant projects 30% of invoices will be collected in the month invoiced, and 70% will be collected in the following month. Accounts payable relates only to the purchase of direct materials. Direct materials are purchased on credit with 45% of direct materials purchases paid during the month of the purchase and 55% paid in the month following purchase. w Fixed manufacturing overhead costs include $13,000 of depreciation costs and fixed nonmanufacturing overhead costs include $7,000 of depreciation costs. Direct manufacturing labour and the remaining manufacturing and nonmanufacturing overhead costs are paid monthly. O material purchases, Direct manufacturing labou and Ending inventory) - X More Info Variable manufacturing overhead is $10 per direct manufacturing labour-hour. There are also $24,000 in fixed manufacturing overhead costs budgeted for January 2018. Snows combines both variable and fixed manufacturing overhead into a single rate based on direct manufacturing labour-hours. Variable marketing costs are allocated at the rate of $260 per sales visit. The marketing plan calls for 35 sales visits during January 2018. Finally, there are $32,000 in fixed nonmanufacturing costs budgeted for January 2018 Print Done input fields and then continue to the next question Materials and Labour Requirements Direct materials Wood Fibreglass Direct manufacturing labour 8 board feet (b.f.) per snowboard 6 yards per snowboard 6 hours per snowboard Snows' CEO expects to sell 1,800 snowboards during January 2018 at an estimated retail price of $550 per board. Further, the CEO expects 2018 beginning inventory of 500 snowboards and would like to end January 2018 with 700 snowboards in stock Direct Materials Inventories Beginning Inventory 1/1/2018 Ending Inventory 1/31/2018 Wood 2,010 b.f. 1,510 b.f. Fibreglass 1,010 yards 2,500 yards Other data include: Other data include: 2017 Unit Price 2018 Unit Price $ $ Wood 31.00 per b.f. 29.00 per b.f. 5.00 per yard $ $ Fibreglass 10.00 per yard 26.00 per hour S Direct manufacturing labour 25.00 per hour The inventoriable unit cost for ending finished-goods inventory on December 31, 2017, is $240.00. Assume Snows uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Revenue Budget For January 2018 Units Selling price Total revenues Snowboards 1,800 $ 550 $ 990,000 - erence WWW Wood Fibreglass Total Physical Units Budget To be used in production 16,000 t 12,000 yards 1,510 bi 2,500 yards Add target ending inventory Total requirement 1,5 10 t. 2,010 Deduct beginning inventory 14,500 yards 1,010 yards 13.490 yards 15,500 bi Purchases to be made Cost Budget 480.500 $ 134.900 615 400 Purchases Direct Manufacturing Labour Costs Budget Output Units Produced For January 2018 DMLH per Unit Total Hours Hourly Wage Rate Total Snowboards 2,000 6 12,000 $ 26 $ 312,000 Variable manufacturing overhead costs I Total labour hours X Variable manufacturing overhead rate 12.000 10 120,000 10 = 120,000 Ending Inventories Budget For January 2018 Quantity Cost per unit Total Direct materials Wood 1,510 $ 31 $ 46,810 Fibreglass 2,500 10 25,000 Finished goods 375,200 Snowboard 700 S 536 S 447 010 Total ending inventory > O L W