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Other data include: |(Click the icon to view the other data.) Skubas, Inc., manufactures and sells snowboards. Skubas manufactures a single model, the Pipex. In late 2020, Skubas's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) i (Click the icon to view the additional information.) |(Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $240.00. Assume Skubas uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Read the requirements. X Data Table i 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 Print Done More Info Skubas's 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. Print Done X Data Table Direct Materials Inventories Beginning Inventory January 1, 2021 Ending Inventory January 31, 2021 Wood 2,010 b.f. 1,510 b.f. Fiberglass 1,010 yards 2,500 yards Print Done More Info Variable manufacturing overhead is $10 per direct manufacturing labor-hour. There are also $24,000 in fixed manufacturing overhead costs budgeted for January 2021. Skubas 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. Print Done i Data Table 2020 Unit Price 2021 Unit Price Wood 29.00 per b.f. Fiberglass $ 5.00 per yard 31.00 per b.f. 10.00 per yard 26.00 per hour Direct manufacturing labor 25.00 per hour Print Done 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 unit in January 2021. (Abbreviation used: Manuf. = Manufacturing. Round the overhead cost per output unit to the nearest cent.) Budgeted manufacturing overhead cost per output unit = II 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 unit of input of output Total Direct materials Wood 8 b.f. Fiberglass 6 yds. Direct manufacturing labor 6 hrs. III Budgeted manufacturing overhead cost Total Requirement 9. Prepare an ending inventory budget for both direct materials and finished goods for January 2021. (Round your answers to the nearest whole dollar.) Ending Inventories Budget For January 2021 Quantity Cost per unit Total Direct materials Wood 1,510 Fiberglass 2,500 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 LLL Cost of goods sold
