BUDGET PROBLEM Jonick Sports, Inc. manufactures a unique type of protective helmet. The following is the company's budget information for April: A. Estimated sales of helmets for April: Unit price $307 B. Estimated inventories at April 1: Direct materials: Plastic Foam lining Direct materials: Plastic Foam lining Quantity 8,000 C. Desired/anticipated inventories at April 30: Plastic Foam lining Pounds 140 40 Plastic Foam lining Pounds 180 20 D. Direct materials used to produce each helmet: Pounds 2.5 0.5 Utilities Insurance Property tax Work in process: Amount $44,210 $35 $16 Work in process: Amount $33,200 Molding Department Assembly Department Finishing Department Packing Department E. Anticipated cost per pound of purchases and inventory amounts of direct materials: Cost per lb. F. Anticipated direct labor requirements to produce each helmet: Hours Hourly cost 2.0 0.5 0.25 0.25 G. Estimated factory overhead costs for April: Indirect factory wages Depreciation of plant and equipment $30 18 12 8 Instructions Enter formulas and/or functions in the yellow cells for questions #1 through 7 that result in various budget-related amounts for April. a. Use variables/cell references rather than typing numbers into the formulas. b. reference cells where data is given or where you entered a previous answer. Do not use "helper cells". c. Use the SUM and SUMPRODUCT functions at least once each. All items except #2 are asking for dollar amounts. Amount $154,700 27,000 17,400 8,800 6,600 Finished helmets: Quantity 600 Unit cost $190 Finished helmets: Quantity 1,000 Unit cost $190 1. 2 3. 4. 5. 6. 7. Estimated sales Number of units to produce Total direct materials to be purchased Total direct labor cost Total factory overhead Total manufacturing costs Cost of goods manufactured. $2,456,000