can you please answer all questions?

Cash ? Accounts receivable ? 2 $ 851,000 Inventory Property, plant, and equipment (net) Accounts payable Long-term liabilities Stockholders' equity ? 179,000 2 11,000 Selected budgeted information for December 2020 follows: Cash balance, December 31, 2020 $ Budgeted sales Budgeted materials purchases 1,680,000 650,000 Customer invoices are payable within 30 day From past experience, Snowmass's accountant projects 40% of invoices will be collected in the month invoiced, and 60% will be collected in the following month. Accounts payable relates only to the purchase of direct materials. Direct materials are purchased on credit with 25% of direct materials purchases paid during the month of the purchase, and 75% paid in the month following purchase. Fixed manufacturing overhead costs include $13,000 of depreciation costs and fixed operating (nonmanufacturing) overhead costs include $15,000 of depreciation costs. Direct manufacturing labor and the remaining manufacturing and operating (nonmanufacturing) overhead costs are paid monthly All property, plant, and equipment acquired during January 2021 were purchased on credit and did not entail any outflow of cash. There were no borrowings or repayments with respect to long-term liabilities in January 2021. On December 15, 2020, Snowmass's board of directors voted to pay a $125,000 dividend to stockholders on January 31, 2021. Print Done 21. Shl Jements for fixed manufacturing and operating More info - X culation Variable manufacturing overhead is $10 per direct manufacturing labor hour. There are also $24,000 in fixed manufacturing overhead costs budgeted for January 2021. Snowmass 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 $260 per sales visit. The marketing plan calls for 35 sales visits during January 2021. Finally, there are $32,000 in fixed operating (nonmanufacturing) costs budgeted for January 2021 es of acd Payabl Print Done or fixed manufacturing and operating (nonmanufacturing) overhead Overhead Materials and Labor Requirements Direct materials Wood Fiberglass Direct manufacturing labor 8 board feet (b.f.) per snowboard 6 yards per snowboard 6 hours per snowboard Snowmass' CEO expects to sell 1,800 snowboards during January 2021 at an estimated retail price of $550 per board. Further, the CEO expects 2021 beginning inventory of 500 snowboards and would like to end January 2021 with 700 snowboards in stock. Direct Materials Inventories Beginning Inventory Ending Inventory January January 1, 2021 31, 2021 2,010 b.f. 1,510 b.f. 1,010 yards 2,500 yards Wood Fiberglass Other data include: 2020 Unit Price 2021 Unit Price Wood $ $ $ Fiberglass Direct manufacturing labor 29.00 per b.f. 5.00 per yard 25.00 per hour $ 31.00 per b.f. 10.00 per yard 26.00 per hour $ $ The inventoriable unit cost for ending finished-goods inventory on December 31, 2020, is $240.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Print Done For January 2021 Units Selling price Total revenues Snowboards 1,800 $ 550 $ 990,000 Direct Materials Purchases Budget For January 2021 Materials Wood Fiberglass Total Physical Units Budget To be used in production 16,000 b.f. 12,000 yards 1,510 bt. 2,500 yards Add target ending inventory Total requirement 17,510 b.f. 14,500 yards Deduct beginning inventory 2,010 b.f. 1,010 yards Purchases to be made 15,500 b.f. 13,490 yards Cost Budget Purchases $ 480,500 $ 134,900 $ 615,400 Direct Manufacturing Labor Costs Budget For January 2021 Output Units DMLH Total Hourly Purchases Direct Manufacturing Labor Costs Budget For January 2021 Output Units DMLH Total Hourly Produced Hours Wage Rate 2,000 6 12,000 $ 26 per Unit Total Snowboards $ 312,000 Total labor hours X Variable manufacturing overhead rate Variable manufacturing overhead costs 120,000 12,000 x 10 Ending Inventories Budget For January 2021 Quantity Cost per unit Total Direct materials Wood 31 $ 1,510 2,500 46,810 25,000 Fiberglass 10 Finished goods Snowboard 700 $ 536 375,200 $ 447,010 Total ending inventory Read the requirements. - Requirements 1. 2. Prepare a cash budget for January 2021. Show supporting schedules for the calculation of collection of receivables and payments of accounts payable, and for disbursements for fixed manufacturing and operating (nonmanufacturing) overhead. Snowmass is interested in maintaining a minimum cash balance of $95,000 at the end of each month, Will Snowmass be in a position to pay the $125,000 dividend on January 31? Why do Snowmass's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Prepare a budgeted balance sheet for January 31, 2021 by calculating the January 31, 2021 balances in (a) cash (b) accounts receivable (c) inventory (d) accounts payable and (e) plugging in the balance for stockholders' equity. 3. 4. Print Done Choreon to view the words and breatment. The red Requirements. Preparach Budget for Juny 2021. Show supporting weddies for the one collection of recently wed payments of accounts payable and fordeboere for food muratung und operating (normandching) wed Begin typering the supporting schedule for the chien of collection of receivable Schedule of Cash Collection From December 2000 sales From January 2011 Tollection Next prepare the supporting wheel to the payment of accounts payable Schedule of Cash Payments for Accounts Payable From December 2000 From January 2001 Toys for conta ay Prepare the sporting cule for diamant for dating and opening dating red Schedule of Cash Payments for Fred Overhead manufacturing Tised operating themancing To cash pay for dow Prepare a cash budget for any 2021. Oft Seld is now the leave the outdoor Snowman Cash Budget For Month Ending January 31, 2021 Cash Budget For Movih Ending January 21, 2021 Cashbace, beginning Aadreceipts Totalcathi forhood Deductisment Talisme Cash blending Requirement 2. Snowman ing mrimum chance of $95.000 end of the Wirbena potonotheid on in a position to pay the $125,000 vided on January 31 Requirements. Why do we managers prepare a gentothenge and opening income? mange machination og ombudget accounting ba's Swangershende * buna position to pay the #126.000 dividend en ny Requirements. Why definowmaw's managers per a cash boot in addition to the revenue expenses in one bo Snown as managers prepare a cash budget in addition to the operating home budget to tron scoring basi Brown's managers may herede Singing in that adequate cash will be able Requirement & Propere a budgeled balance sheet for January 31, 2011 by closing the Jony 1, 2007 balance in the cash bol courts recable (inventory of accounts payable and in purging in the work Snowmass, the Budgeted Balance Sheet January 31, 2021 As Total Liabies and Stockholders' Equity Cash ? Accounts receivable ? 2 $ 851,000 Inventory Property, plant, and equipment (net) Accounts payable Long-term liabilities Stockholders' equity ? 179,000 2 11,000 Selected budgeted information for December 2020 follows: Cash balance, December 31, 2020 $ Budgeted sales Budgeted materials purchases 1,680,000 650,000 Customer invoices are payable within 30 day From past experience, Snowmass's accountant projects 40% of invoices will be collected in the month invoiced, and 60% will be collected in the following month. Accounts payable relates only to the purchase of direct materials. Direct materials are purchased on credit with 25% of direct materials purchases paid during the month of the purchase, and 75% paid in the month following purchase. Fixed manufacturing overhead costs include $13,000 of depreciation costs and fixed operating (nonmanufacturing) overhead costs include $15,000 of depreciation costs. Direct manufacturing labor and the remaining manufacturing and operating (nonmanufacturing) overhead costs are paid monthly All property, plant, and equipment acquired during January 2021 were purchased on credit and did not entail any outflow of cash. There were no borrowings or repayments with respect to long-term liabilities in January 2021. On December 15, 2020, Snowmass's board of directors voted to pay a $125,000 dividend to stockholders on January 31, 2021. Print Done 21. Shl Jements for fixed manufacturing and operating More info - X culation Variable manufacturing overhead is $10 per direct manufacturing labor hour. There are also $24,000 in fixed manufacturing overhead costs budgeted for January 2021. Snowmass 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 $260 per sales visit. The marketing plan calls for 35 sales visits during January 2021. Finally, there are $32,000 in fixed operating (nonmanufacturing) costs budgeted for January 2021 es of acd Payabl Print Done or fixed manufacturing and operating (nonmanufacturing) overhead Overhead Materials and Labor Requirements Direct materials Wood Fiberglass Direct manufacturing labor 8 board feet (b.f.) per snowboard 6 yards per snowboard 6 hours per snowboard Snowmass' CEO expects to sell 1,800 snowboards during January 2021 at an estimated retail price of $550 per board. Further, the CEO expects 2021 beginning inventory of 500 snowboards and would like to end January 2021 with 700 snowboards in stock. Direct Materials Inventories Beginning Inventory Ending Inventory January January 1, 2021 31, 2021 2,010 b.f. 1,510 b.f. 1,010 yards 2,500 yards Wood Fiberglass Other data include: 2020 Unit Price 2021 Unit Price Wood $ $ $ Fiberglass Direct manufacturing labor 29.00 per b.f. 5.00 per yard 25.00 per hour $ 31.00 per b.f. 10.00 per yard 26.00 per hour $ $ The inventoriable unit cost for ending finished-goods inventory on December 31, 2020, is $240.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Print Done For January 2021 Units Selling price Total revenues Snowboards 1,800 $ 550 $ 990,000 Direct Materials Purchases Budget For January 2021 Materials Wood Fiberglass Total Physical Units Budget To be used in production 16,000 b.f. 12,000 yards 1,510 bt. 2,500 yards Add target ending inventory Total requirement 17,510 b.f. 14,500 yards Deduct beginning inventory 2,010 b.f. 1,010 yards Purchases to be made 15,500 b.f. 13,490 yards Cost Budget Purchases $ 480,500 $ 134,900 $ 615,400 Direct Manufacturing Labor Costs Budget For January 2021 Output Units DMLH Total Hourly Purchases Direct Manufacturing Labor Costs Budget For January 2021 Output Units DMLH Total Hourly Produced Hours Wage Rate 2,000 6 12,000 $ 26 per Unit Total Snowboards $ 312,000 Total labor hours X Variable manufacturing overhead rate Variable manufacturing overhead costs 120,000 12,000 x 10 Ending Inventories Budget For January 2021 Quantity Cost per unit Total Direct materials Wood 31 $ 1,510 2,500 46,810 25,000 Fiberglass 10 Finished goods Snowboard 700 $ 536 375,200 $ 447,010 Total ending inventory Read the requirements. - Requirements 1. 2. Prepare a cash budget for January 2021. Show supporting schedules for the calculation of collection of receivables and payments of accounts payable, and for disbursements for fixed manufacturing and operating (nonmanufacturing) overhead. Snowmass is interested in maintaining a minimum cash balance of $95,000 at the end of each month, Will Snowmass be in a position to pay the $125,000 dividend on January 31? Why do Snowmass's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Prepare a budgeted balance sheet for January 31, 2021 by calculating the January 31, 2021 balances in (a) cash (b) accounts receivable (c) inventory (d) accounts payable and (e) plugging in the balance for stockholders' equity. 3. 4. Print Done Choreon to view the words and breatment. The red Requirements. Preparach Budget for Juny 2021. Show supporting weddies for the one collection of recently wed payments of accounts payable and fordeboere for food muratung und operating (normandching) wed Begin typering the supporting schedule for the chien of collection of receivable Schedule of Cash Collection From December 2000 sales From January 2011 Tollection Next prepare the supporting wheel to the payment of accounts payable Schedule of Cash Payments for Accounts Payable From December 2000 From January 2001 Toys for conta ay Prepare the sporting cule for diamant for dating and opening dating red Schedule of Cash Payments for Fred Overhead manufacturing Tised operating themancing To cash pay for dow Prepare a cash budget for any 2021. Oft Seld is now the leave the outdoor Snowman Cash Budget For Month Ending January 31, 2021 Cash Budget For Movih Ending January 21, 2021 Cashbace, beginning Aadreceipts Totalcathi forhood Deductisment Talisme Cash blending Requirement 2. Snowman ing mrimum chance of $95.000 end of the Wirbena potonotheid on in a position to pay the $125,000 vided on January 31 Requirements. Why do we managers prepare a gentothenge and opening income? mange machination og ombudget accounting ba's Swangershende * buna position to pay the #126.000 dividend en ny Requirements. Why definowmaw's managers per a cash boot in addition to the revenue expenses in one bo Snown as managers prepare a cash budget in addition to the operating home budget to tron scoring basi Brown's managers may herede Singing in that adequate cash will be able Requirement & Propere a budgeled balance sheet for January 31, 2011 by closing the Jony 1, 2007 balance in the cash bol courts recable (inventory of accounts payable and in purging in the work Snowmass, the Budgeted Balance Sheet January 31, 2021 As Total Liabies and Stockholders' Equity