Alps Ltd manufactures & sells snowboards. The company manufactures a single model, the Slider. In the summer of 2020, Alps Ltd.'s management accountant gathered the following data to prepare budget for 2021.

Material & labour requirements:

Direct materials
Wood	1.25 board meters (b.m.) per snowboard
Fiberglass	4.8 meters per snowboard
Direct manufacturing labour	5 hours per snowboard

The company's CEO expects to sell 1000 snowboards during 2021 at an estimated retail price of $700 per board. Further, the CEO expects 2021 beginning inventory of 100 snowboards and would like to end the 2021 with 200 snowboards in stock.

	Beginning inventory 1/1/21	Closing inventory 31/12/21
Wood	500 b.m	375 b.m.
Fibreglass	800 metres	1600 metres

Variable manufacturing overhead is $14 per direct manufacturing labour hour. There are also $132 000 in fixed manufacturing overhead costs budgeted for 2021. The company combines both variable & fixed manufacturing overhead into a single rate based on direct manufacturing labour hours. Variable marketing costs are allocated at the rate of $250 per sales visit. The marketing plan calls for 30 sales visits during 2021. Finally, there are $30 000 in fixed non-manufacturing costs budgeted for 2021.

Other data include:

	2020-unit price	2021-unit price
wood	$112.00 per b.m.	$120.00 b. m.
Fibreglass	$6 per metre	$6.25 per metre Fiberglass
Direct manufacturing labour	$48 per hour	$50 per hour

The inventoriable unit cost for ending finished goods inventory on 31 December 2020 is $580. 80. Assume Alps uses FIFO inventory method for both direct materials & finished goods. (Ignore work in process).

Budgeted balances as at December 31, 2021 are:

cash	$10,000
Property plant & equipment (net)	850,000
current liabilities	17,000
non-current liabilities	178,000
Share holders' equity	844,000

A) Prepare Sales budget for 2021

B) Prepare production budget for 2021

c) Prepare the direct material usage & purchase budget

d) Prepare direct manufacturing labour budget

e) Prepare manufacturing overhead budget

f) What is the budgeted manufacturing overhead rate?

g) What is the budgeted manufacturing overhead cost per unit for 2021?

h) Calculate the unit cost of a snowboard in closing inventory on 31 December 2021.

i) Prepare ending inventory budget for 2021.

j) Prepare cost of goods sold budget for 2021

k) Prepare budgeted income & expenditure statement for year ending 31 December 2021

l) Prepare the budgeted balance sheet for Alps Ltd as at 31 December 2021