For revision purpose only (please do in excel) - Management Accounting

Fisher-Price manufactures two products, Bassinet and Swing, which use raw materials, pins and clips. One bassinet uses 4 units of pins and 3 units of clips. One swing uses 2 units of pins and 6 units of clips. One pin is expected to cost $7 and one clip is expected to cost $5.

Sales and finished goods inventory budget for the year 2020 are as follows:

Bassinets	Swings
Budgeted sales	5,000 units	Budgeted sales	7.000 units
Opening inventory	1,000 units	Opening inventory	2,000 units
Closing inventory	600 units	Closing inventory	800 units
Selling price	$400	Selling price	$300

Raw material inventory budget for the year 2020 are as follows:

Pins	Clips
Opening inventory	2,400 units	Opening inventory	3,300 units
Closing inventory	500 units	Closing inventory	600 units

The warehouse and stores managers have suggested that a provision should be made for damages and deterioration of items held in store, as follows.

Product
Bassinets	Loss of 80 units
Swings	Loss of 50 units
Raw materials
Pins	Loss of 30 units
Clips	Loss of 20 units

Required:

1. Prepare the following for the year 2020:
2. Sales budget
3. Production budget
4. Raw material usage budget
5. Raw material purchase budget