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Tratt, Ins, mares a bordo State mas a sign modelthe Poe. In 2000, management account gathered the flowing for to prepare budget for 2021 Check the icon to view and ) (Click to love the window) (Click the icon to the directemente) Click the water information Other dute Tv There will contidos merry Portretten har Requirement 1. Prepreneurry 2001 en tot in der Revenue Budget For January 2011 Units Selling price Total wenn finowboard Requirement 2. Prepare the day 2021 production to in un Production de For Juary 2011 Budged as 2100 300 Add watending finished gode ventory Torredurite Deducting fing Uns of goods to be red Requirements. Prepare the demagen por Begin with the physical portion en parte por the Direct Material Usage Budget in and on onal Information) - X Data table ry 2021 revenues budget in dollars). adget 2021 price Total revenues Materials and Labor Requirements Direct materials Wood 12 board feet (b.) per snowboard Fiberglass 10 yards per snowboard Direct manufacturing labor 6 hours per snowboard ary 2021 production budget (in units), udget 2021 3.100 700 Print Done inventory 600 inventory duced material usage and purchases budgets for January 2021. la huda CA udget - X More info nues Slatts's CEO expects to sell 3,100 snowboards during January 2021 at an estimated retail price of $850 per board. Further, the CEO expects 2021 beginning inventory of 600 snowboards and would like to end January 2021 with 700 snowboards in stock. budge Print Done 3.100 700 600 terials inventories) Information.) wished goods inventory on December 31, 2020, s $3 Slutts uses a FIFO inventory method for both direct materials and finished goods. Ignore wor calculations Read the requirements 21 revenues budget Data table - X Total revenues Direct Materials Inventories Beginning Inventory Ending Inventory January January 1, 2021 31, 2021 2,050 b.. 1,550 b. 1,050 Srds 2,050 yards Wood production budget Fiberglass 3.100 700 Print Done 600 venues budget More info - X otal revenues Variable manufacturing overhead is $15 per direct manufacturing labor hour. There are also $19,200 in fixed manufacturing overhead costs budgeted for January 2021. Slatts combines both variable and fixed manufacturing overhead into a single rate based on direct manufacturing labor-hours. Variable marketing costs are allocated at the rate of $300 per sales visit. The marketing plan calls for 39 sales visits during January 2021. Finally, there are $36,000 in fixed operating (nonmanufacturing) costs budgeted for January 2021 aduction budget | 3,100 700 Print Done 600 Ege and purchases budgets for January 2021 - XX Data table 2020 Unit Price 2021 Unit Price $ $ Wood Fiberglass Direct manufacturing labor 33.00 per b.f. 9.00 per yard 29.00 per hour $ 35.00 per b.f. 10.00 per yard $ $ $ 30.00 per hour Print Done quirements Prepare the January 2021 revenues budget (in dollars). Prepare the January 2021 production budget (in units). Prepare the direct material usage and purchases budgets for January 202 Prepare a direct manufacturing labor costs budget for January 2021. Prepare a manufacturing overhead costs budget for January 2021. What is the budgeted manufacturing overhead rate for January 2021? What is the budgeted manufacturing overhead cost per output unit in January 2021? Calculate the cost of a snowboard manufactured in January 2021. Prepare an ending inventory budget for both direct materials and finished goods for January 2021. 10. Prepare a cost of goods sold budget for January 2021. 1. Prepare the budgeted operating income statement for Slatts, Inc., for January 2021. 2. What questions might the CEO ask the management team when reviewing the budget? Should the CEO set stretch targets? Explain briefly. How does preparing the budget help Slatts's management team better manage the company? 13. Print Done Slatts, Inc., manufactures and sells snowboards. Slatts manufactures a single model, the Pipex. In late 2020, Slatts's Requirement 1. Prepare the January 2021 revenues budget (in dollars). Revenue Budget For January 2021 Units Selling price Total revenues Snowboards Requirement 2. Prepare the January 2021 production budget (in units). Production Budget For January 2021 Budgeted units sales Add target ending finished goods inventory Total required units Deduct beginning finished goods inventory Units of finished goods to be produced 3,100 700 600 Requirement 3. Prepare the direct material usage and purchases budgets for January 2021 Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budget. Direct Material Usage Budget in Quantity and Dollars For January 2021 Material Wood Fiberglass Total Physical Units Budget Requirement 3. Prepare the direct material usage and purchases budgets for January 2021. Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budget. Direct Material Usage Budget in Quantity and Dollars For January 2021 Material Wood Fiberglass Total Physical Units Budget Direct materials required for Snowboards b.f. yds Cost Budget Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Wood Fiberglass To be purchased this period Wood Fiberglass Direct materials to be used this period Now prepare the direct material purchases budget for January 2021. Direct Materials Purchases Budget For January 2021 Materials Woord Fihorlace III UD Total Total Direct Materials Purchases Budget For January 2021 Materials Wood Fiberglass Physical Units Budget To be used in production b.f. yards Add target ending inventory 1,550 b.t. Total requirement b.f. yards Deduct beginning inventory 2,050 b.1. 1,050 yards Purchases to be made b.f. yards Cost Budget 2,050 yards Purchases DMLH Total Requirement 4. Prepare a direct manufacturing labor budget for January 2021. (Abbreviation used: DMLH = Direct manufacturing labor hours.) Direct Manufacturing Labor Costs Budget For January 2021 Output Units Hourly Produced per Unit Hours Wage Rate Total 6 Requirement 5. Prepare a manufacturing overhead budget for January 2021 Begin the manufacturing overhead cost budgets by first determining the formula, then calculate the variable manufacturing overhead costs. (Abbre Variable manufacturing overhead costs Snowboards Variable manufacturing overhead costs Fixed manufacturing overhead costs Total Requirement 6. What is the budgeted manufacturing overhead rate for January 2021? Begin by determining the formula, then enter the appropriate amounts to calculate the budgeted manufacturing overhead rate for January Budgeted manufacturing overhead rate Requirement 7. What is the budgeted manufacturing overhead cost per output unit in January 2021? Begin by determining the formula, then enter the appropriate amounts to calculate the budgeted manufacturing overhead cost per output um to the nearest cent) Budgeted manufacturing overhead cost per output unit Requirement 8. Calculate the cost of a snowboard manufactured in January 2021. (Round your answers to the nearest whole dollar.) Unit Costs of Manufacturing Finished Goods For January 2021 Cost per Input per unit of Input of output Total Direct materials Wood 12 buf Fiberglass 10 yds. unit Input per unit of output Total For January 2021 Cost per unit of input Direct materials Wood Fiberglass Direct manufacturing labor Budgeted manufacturing overhead cost 12 b.f. 10 yds. 6 hrs Total Requirement 9. Prepare an ending inventory budget for both direct materials and finished goods for January 2021. (Round your answers Ending Inventories Budget For January 2021 Quantity Cost per unit Total Direct materials 1,550 Fiberglass 2,050 Wood Finished goods Snowboard Total ending inventory 700 For January 2021 Quantity Cost per unit Total Direct materials Wood 1,550 Fiberglass 2,050 Finished goods Snowboard 700 Total ending inventory Requirement 10. Prepare a cost of goods sold budget for January 2021. Cost of Goods Sold Budget For January 2021 Beginning finished goods inventory, January 1 Direct materials used Direct manufacturing labor Manufacturing overhead Cost of goods manufactured Cost of goods available for sale Deduct ending finished goods inventory, January 31 Cost of goods sold Requirement 11. Prepare the budgeted operating income statement for Slatts, Inc., for January 2021. Budgeted Operating Income Statement Uogeted operating income statement for Siats, inc., for January 2021. Budgeted Operating Income Statement For January 2021 Revenues Cost of goods sold Gross margin Operating (nonmanufacturing) costs DIE Operating income Requirement 12. What questions might the CEO ask the management team when reviewing the budget? Should th First, select the questions that the CEO might ask the marketing manager. (Select all that apply.) Now, select the questions that the CEO might ask the production manager. (Select all that apply.) Should the CEO set stretch targets? Explain briefly, The CEO because: (Select all that apply) Should the CEO set stretch targets? Explain briefly. The CEO because: (Select all that apply Requirement 13. How does preparing the budget help Slatts' management team better manage the com Preparing a budget helps Slatts, Inc.: (Select all that apply.)