Direct materials

Wood $,1\mathrm{.}25$ board metres $($b$.$m$.)$ per snowboard

Fibreglass

Direct manufacturing labour

$1\mathrm{.}25$ board metres $($b$.$m$.)$ per

$4\mathrm{.}8$ metres per snowboard

$5$ hours per snowboard

Slopes Ltd$\text{'}$s CEO expects to sell $1000$ snowboards during $2019$ at an estimated retail price of $$700$ per board.

Further, the CEO expects a $2019$ beginning inventory of $100$ snowboards and would like to end $2019$ with $200$

snowboards in stock.

Variable manufacturing overhead is $$14$ per direct manufacturing labour$-$hour. There is also $$132000$

in fixed manufacturing overhead costs budgeted for $2019.$ Slopes Ltd combines both variable and fixed

manufacturing overhead into a single rate based on direct manufacturing labour$-$hours. Variable marketing

costs are allocated at the rate of $$250$ per sales visit. The marketing plan calls for $30$ sales visits during $2019.$

Finally, there is $$30000$ in fixed non$-$manufacturing costs budgeted for $2019.$

Other data include:

The inventoriable unit cost for ending finished goods inventory on $31$ December $2018$ is $$580\mathrm{.}80.$ Assume that

Slopes Ltd uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process

in your calculations.

Budgeted balances at $31$ December $2019$ in the selected accounts are:

REQUIRED

Prepare the $2019$ revenues budget $($in dollars$).$

Prepare the $2019$ production budget $($in units$).$

Prepare the direct materials usage and purchases budgets for $2019.$

Prepare a direct manufacturing labour budget for $2019.$

Prepare a manufacturing overhead budget for $2019.$

What is the budgeted manufacturing overhead rate for $2019?$

What is the budgeted manufacturing overhead cost per output unit in $2019?$

Calculate the unit cost of a snowboard in closing inventory on $31$ December $2019.$

Prepare an ending inventory budget for both direct materials and finished goods for $2019.$

Prepare a cost of goods sold budget for $2019.$

Prepare the budgeted income statement for Slopes Ltd for the year ending $31$ December $2019.$

Prepare the budgeted balance sheet for Slopes Ltd as of $31$ December $2019.$