class was cancelled need help ASAP this is for second portion of my hw from requirments 7-remaining

voy a lliu Duyet by quarters Tintes Balance sheet for December 31, 2018, follows: 0 Requirements - X More Inf und pur 34.710 18,690 17.444 22 864 1. Prepare Tinted's operating budget and cash budget for 2019 by quarter. Required schedules and budgets include: sales budget, production budget, direct materials budget, direct labor budget, manufacturing overhead budget cost of goods sold budget, selling and administrative expense budget schedule of cash receipts, schedule of cash payments, and cash budget. Manufacturing overhead costs are allocated based on direct labor hours (Round all calculations to the nearest dollar) 2. Prepare Tinted's annual financial budget for 2019, including budgeted income statement and budgeted balance sheet 3. Tinted sold 4,500 sets in 2019, and its actual operating income was as follows: Click the icon to view the actual income statement.) Prepare a flexible budget performance report through operating income for 2019. Show product costs separately from selling and administrative costs. To simplify the calculations due to sets in beginning inventory having a different cost than those produced and sold in 2019, assume the following product costs FE (Click the icon to view the product costs.) 4. What was the effect on Tinted's operating income of selling 300 sets more than the static budget level of sales? 5. What is Tinted's static budget variance for operating income? 6. Explain why the flexible budget performance report provides more useful information to Tinted's managers than the static budget performance report. What insights can Tinted's managers draw from this performance report? 7. During 2019, Tinted recorded the following cost data: Click the icon to view the standard cost data.) PF (Click the icon to view the actual cost data.) Compute the cost and efficiency variances for direct materials and direct labor 8. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances 9. Prepare the standard cost income statement for 2019. 10. Calculate Tinted's ROI for 2019. To calculate average total assets, use the December 31, 2018, balance sheet for the beginning balance and the budgeted balance sheet for December 31, 2019, for the ending balance Round all of your answers to four decimal places 11. Calculate Tinted's profit margin ratio for 2019. Interpret your results 12. Calculate Tinted's asset turnover ratio for 2019. Interpret your results 13. Use the expanded ROI formula to confirm your results from Requirement 10. Interpret your results. less other n are sta Budgete Cash sal are budg Finished Desired 2020 are Raw Ma is 6 pour Desired productie insignific Each sel Variable Fbced me other co Fixed se for rent: Variable Capital in the fir Cash rel the sale quarter purpose Direct m Account Direct la incurred Income Tinted d needed beginnir per year quarter Print Done Password-CC 550 pts p24-1 (similar to) Toy Company manufactures toy building block sets for children. Tinted is planning for 2019 by developing a master 0 Data Table Standard Cost Information Cost Direct materials Direct labor Variable manufacturing overhead Foced manufacturing overhead Static budget amount $24.864 Quantity 6 pounds per set $ 1.00 per pound 0.40 hours per set $ 10.00 per hour 0.40 hours per set $ 10.00 per hour 0.40 hours per set 14.40 per hour N Data Table cos cos ( Actual Cost Information Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead 26,700 pounds 1.780 hours 1.780 hours @ @ @ $ 1.30 per pound) $ $ 10.50 per hour) $ 9.80 per hour) 34.710 18.690 17.444 22.864 ( 4. Wha thes 5. What 6. Expla inform What 7. During Print Done Quarter I Quarter Compul 8. Forma efficienc 9. Prepare 10. Calculate budgeled Round 11. Calculate 12. the HW Score: 0%, 0 of 50 pts Question Help More Info (Unless otherwise noted assume all of the following events occurred during 2018 and that any balances given are stated as of December 31, 2018.) a Budgeted sales are 900 sets for the first quarter and expected to increase by 100 sets per quarter. Cash sales are expected to be 30% of total sales, with the remaining 70% of sales on account Sets are budgeted to sell for 570 per set b. Finished Goods Inventory on December 31, 2018. consists of 150 sets at $29 each c. Desired ending Finished Goods Inventory is 30% of the next quarter's sales, first quarter sales for 2020 are expected to be 1300 sets FIFO inventory costing method is used d. Raw Materials Inventory on December 31, 2018, consists of 900 pounds Direct materials requirement is 6 pounds per set. The cost is 51 per pound e Desired ending Raw Materials inventory is 10% of the next quarter's direct materiais needed for production desired ending Inventory for December 31, 2019. Is 900 pounds Indirect materials are insignificant and not considered for budgeting purposes 1. Each set requires 0.40 hours of direct labor direct labor costs average $10 per hour 9. Variable manufacturing overhead is $400 per set h. Fixed manufacturing overhead includes $6,000 per quarter in depreciation and 5216 per quarter for other costs, such as utilities, insurance and property taxes i Foed selling and administrative expenses include 512.000 per quarter for salaries, 55,700 per quarter for rent. $750 per quarter for insurance, and $500 per quarter for depreciation Variable selling and administrative expenses include supplies at 3% of sales k Capital expenditures include 525 000 for new manufacturing equipment to be purchased and paid for in the first quarter Cash receipts for sales on account are 50% in the quarter of the sale and 50% in the quarter following the sale. Accounts Receivable balance on December 31, 2018 is expected to be received in the first Quarter of 2019. uncollectible accounts are considered insignificant and not considered for budgeting purposes m. Direct materials purchases are paid 70% in the quarter purchased and 30% in the following quarter, Accounts Payable balance on December 31, 2018, is expected to be paid in the first quarter of 2019 n. Direct labor manufacturing overhead and selling and administrative costs are paid in the quarter incurred o. Income tax expense is projected at $3.500 per quarter and is paid in the quarter incurred p. Tinted desires to maintain a minimum cash balance of $35,000 and borrows from the local bankas needed in increments of $1.000 at the beginning of the quarter principal repayments are made at the beginning of the quarter when excess funds are available and in increments of $1,000 interest is 6% per year and paid at the beginning of the quarter based on the amount outstanding from the previous quarter L Print Done Check Answer assword- CCC voy a lliu Duyet by quarters Tintes Balance sheet for December 31, 2018, follows: 0 Requirements - X More Inf und pur 34.710 18,690 17.444 22 864 1. Prepare Tinted's operating budget and cash budget for 2019 by quarter. Required schedules and budgets include: sales budget, production budget, direct materials budget, direct labor budget, manufacturing overhead budget cost of goods sold budget, selling and administrative expense budget schedule of cash receipts, schedule of cash payments, and cash budget. Manufacturing overhead costs are allocated based on direct labor hours (Round all calculations to the nearest dollar) 2. Prepare Tinted's annual financial budget for 2019, including budgeted income statement and budgeted balance sheet 3. Tinted sold 4,500 sets in 2019, and its actual operating income was as follows: Click the icon to view the actual income statement.) Prepare a flexible budget performance report through operating income for 2019. Show product costs separately from selling and administrative costs. To simplify the calculations due to sets in beginning inventory having a different cost than those produced and sold in 2019, assume the following product costs FE (Click the icon to view the product costs.) 4. What was the effect on Tinted's operating income of selling 300 sets more than the static budget level of sales? 5. What is Tinted's static budget variance for operating income? 6. Explain why the flexible budget performance report provides more useful information to Tinted's managers than the static budget performance report. What insights can Tinted's managers draw from this performance report? 7. During 2019, Tinted recorded the following cost data: Click the icon to view the standard cost data.) PF (Click the icon to view the actual cost data.) Compute the cost and efficiency variances for direct materials and direct labor 8. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances 9. Prepare the standard cost income statement for 2019. 10. Calculate Tinted's ROI for 2019. To calculate average total assets, use the December 31, 2018, balance sheet for the beginning balance and the budgeted balance sheet for December 31, 2019, for the ending balance Round all of your answers to four decimal places 11. Calculate Tinted's profit margin ratio for 2019. Interpret your results 12. Calculate Tinted's asset turnover ratio for 2019. Interpret your results 13. Use the expanded ROI formula to confirm your results from Requirement 10. Interpret your results. less other n are sta Budgete Cash sal are budg Finished Desired 2020 are Raw Ma is 6 pour Desired productie insignific Each sel Variable Fbced me other co Fixed se for rent: Variable Capital in the fir Cash rel the sale quarter purpose Direct m Account Direct la incurred Income Tinted d needed beginnir per year quarter Print Done Password-CC 550 pts p24-1 (similar to) Toy Company manufactures toy building block sets for children. Tinted is planning for 2019 by developing a master 0 Data Table Standard Cost Information Cost Direct materials Direct labor Variable manufacturing overhead Foced manufacturing overhead Static budget amount $24.864 Quantity 6 pounds per set $ 1.00 per pound 0.40 hours per set $ 10.00 per hour 0.40 hours per set $ 10.00 per hour 0.40 hours per set 14.40 per hour N Data Table cos cos ( Actual Cost Information Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead 26,700 pounds 1.780 hours 1.780 hours @ @ @ $ 1.30 per pound) $ $ 10.50 per hour) $ 9.80 per hour) 34.710 18.690 17.444 22.864 ( 4. Wha thes 5. What 6. Expla inform What 7. During Print Done Quarter I Quarter Compul 8. Forma efficienc 9. Prepare 10. Calculate budgeled Round 11. Calculate 12. the HW Score: 0%, 0 of 50 pts Question Help More Info (Unless otherwise noted assume all of the following events occurred during 2018 and that any balances given are stated as of December 31, 2018.) a Budgeted sales are 900 sets for the first quarter and expected to increase by 100 sets per quarter. Cash sales are expected to be 30% of total sales, with the remaining 70% of sales on account Sets are budgeted to sell for 570 per set b. Finished Goods Inventory on December 31, 2018. consists of 150 sets at $29 each c. Desired ending Finished Goods Inventory is 30% of the next quarter's sales, first quarter sales for 2020 are expected to be 1300 sets FIFO inventory costing method is used d. Raw Materials Inventory on December 31, 2018, consists of 900 pounds Direct materials requirement is 6 pounds per set. The cost is 51 per pound e Desired ending Raw Materials inventory is 10% of the next quarter's direct materiais needed for production desired ending Inventory for December 31, 2019. Is 900 pounds Indirect materials are insignificant and not considered for budgeting purposes 1. Each set requires 0.40 hours of direct labor direct labor costs average $10 per hour 9. Variable manufacturing overhead is $400 per set h. Fixed manufacturing overhead includes $6,000 per quarter in depreciation and 5216 per quarter for other costs, such as utilities, insurance and property taxes i Foed selling and administrative expenses include 512.000 per quarter for salaries, 55,700 per quarter for rent. $750 per quarter for insurance, and $500 per quarter for depreciation Variable selling and administrative expenses include supplies at 3% of sales k Capital expenditures include 525 000 for new manufacturing equipment to be purchased and paid for in the first quarter Cash receipts for sales on account are 50% in the quarter of the sale and 50% in the quarter following the sale. Accounts Receivable balance on December 31, 2018 is expected to be received in the first Quarter of 2019. uncollectible accounts are considered insignificant and not considered for budgeting purposes m. Direct materials purchases are paid 70% in the quarter purchased and 30% in the following quarter, Accounts Payable balance on December 31, 2018, is expected to be paid in the first quarter of 2019 n. Direct labor manufacturing overhead and selling and administrative costs are paid in the quarter incurred o. Income tax expense is projected at $3.500 per quarter and is paid in the quarter incurred p. Tinted desires to maintain a minimum cash balance of $35,000 and borrows from the local bankas needed in increments of $1.000 at the beginning of the quarter principal repayments are made at the beginning of the quarter when excess funds are available and in increments of $1,000 interest is 6% per year and paid at the beginning of the quarter based on the amount outstanding from the previous quarter L Print Done Check Answer assword- CCC