B C D E 1 Thompson Inc. makes snowboards. The company has provided the following information. 2 Please complete the mater budget using the information provided. 3 4 Expected Sales for January 2,900 units 5 Expected Selling Price 650 units 6 Beginning Finished Goods Inventory 500 units $ 374.80 per unit 7 Desired Ending Finished Goods Invent 200 units $ 607.00 per unit 8 Materials Requirements 9 Wood 9 board feet per snowboard 10 Fiberglass 10 yards per snowboard 11 Direct Materials Inventory 12 Wood 01/01/2018 2,040 board feet $ 32.00 per board feet 13 Fiberglass 01/01/2018 1,040 yards $ 8.00 per yard 14 Wood 01/31/2018 1,540 board feet $ 34.00 per board feet 15 Fiberglass 01/31/2018 2,040 yards $ 9.00 per yard 16 Direct Manufacturing Labor 29.00 per hour 17 Variable Manufacturing Overhead 18 Fixed Manufacturing Costs 7.00 per direct labor hour $ 81,000 19 Budgeted Total Manufacturing Cost Per Unit $ 66.00 20 Variable Marketing Costs 38 visits 21 Fixed Selling and Administrative Costs $ 250,00 per visit 22 $ 35,000 23 24 5 hours per un 25 Times New Roman Pasto BIU a. Av === LA Font K Clipboard Alignment IS D32 f B E 1 Part 1: Prepare a Revenue Budget. Thompson Inc. Revenues Budget 5 For the Month of January 6 Units Selling Price Total Revenues 7 2.900 $ 650 $ 1,885,000 B 9 Part 2: Prepare a Production Budget in (units). 10 11 Thompson Inc. 52 Production Budget (units) 13 For the Month of January Units 15 Budgeted Unit Sales 2.900 16 Add Desired Ending Finished Goods Inventory 200 17 Total Requirements 3,100 18 Deduct: Beginning Finished Goods Inventory SOO 19 Units to Be Produced 2,600 20 21 Part 3: Prepare a Direct Materials Usage budget. 22 Thompson Inc. Direct Materials Usage Budget 25 For the Month of January 26 Wood Fiberglass Template Data Ready 24 Type here to search FULL HD 1080 Clipboard Font IS Alignment 32 D E Fiberglass Thompson Inc. Direct Materials Usage Budget For the Month of January Wood Physical Units Budget Wood Fiberglass To Be Used in Production 1 2 Cost Budget -3 Available from Beginning Inventory 4 Wood 35 Fiberglass 36 To Be Used From Purchases this period 37 Wood 38 Fiberglass 39 Total Cost of Direct Materials to be used 41 Part 4: Prepare a Direct Materials Purchases Budget Thompson Inc. Direct Materials Purchases Budget For the Mouth of January Wood 47 Production Usage 40 Add Target Ending Inventory 49 Total Requirements 50 Deduct. Bepening Inventory 51 Purchases + 42 Fiberglass Template Data Ready Type here to search FULL HD - 1080 B E 53 Cost Budget 54 Wood 55 Fiberglass 56 Purchases 57 58 Part 5: Prepare a Direct Manufacturing Labor Budget 59 Thompson Inc. Direct Manufacturing Labor Budget For the Month of January 60 61 62 63 53 64 Labor Category Units ProducedDL Hours Per Unit Wage Rate Total 65 Manufacturing Labor 66 67 Part 6: Prepare a Manufacturing Overhead Budget 68 69 Thompson Inc. 70 Manufacturing Overhead Budget 71 For the Month of January 72 73 Variable Manufacturing Overhead Costs 74 Fixed Manufacturing Overhead Costs 75 Total Manufacturing Overhead Costs 76 T7 Part 7: Prepare an Ending Inventories Budget 78 79 Thompson Inc. BO Ending Inventories Budget 81 For the Month of January Units Template Cost per Uni Total Data 32 Ramil | 1 IZ Font Alignn ipboard > for N C B D E A Ending Inventories Budget For the Month of January Units Cost per Unit Total Direct Materials Wood Fiberglass Finished Goods Total Ending Inventory Part 8: Prepare a COGS Budget 3 1 Thompson Ine. COGS Budget 33 For the Month of January 34 95 Beginning Finished Goods Inventory 01/01/2018 96 Direct Materials Used 97 Direct Manufactung Labor Be Manufacturing Overhead 99 Cost of Goods Available 100 Deduct Ending Inventory 101 COGS 103 Part 9: Prepare a Budgeted Income Statement 104 Thompson Inc. Budgeted Income Statement MOT For the Month of January TO COGS Do Mar 12 Variable Marketing Costs 10 med en and Administrative Costs 14 Income Template Ready Data
