= Homework: Ch 6 Quiz Question 3, P6-43 (simil... Part 1 of 7 HW Score: 0%, 0 of 25 points O Points: 0 of 8 Save Next question Data table - X 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 budgeted balances and additional information pertaining to the cash budget.) (Click the icon to view the additional variable and fixed manufacturing cost information.) irect ? ? Requirement 1. Prepare a cash budget for January 2021. Show supporting schedules for the calculation of collection of rec (nonmanufacturing) overhead. ? 7 Budgeted balances at January 31, 2021 are as follows: Cash Accounts receivable Inventory Property, plant, and equipment (net) Accounts payable Long-term liabilities Stockholders' equity S Begin by preparing the supporting schedule for the calculation of collection of receivables. 851,000 ? ? 179.000 ? Schedule of Cash Collections From December 2020 sales From January 2021 sales Total collections 11,000 Selected budgeted information for December 2020 follows: Cash balance, December 31, 2020 $ Budgeted sales Budgeted materials purchases -X 1.780,000 630,000 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. Varlable 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. Customer invoices are payable within 30 days. From past experience, Skubas's accountant projects 25% of invoices will be collected in the month invoiced, and 75% will be collected in the following month. Accounts payable relates only to the purchase of direct materials. Direct materials are purchased on credit with 30% of direct materials purchases paid during the month of the purchase, and 70% paid in the month following purchase. Fixed manufacturing overhead costs include $13,000 of depreciation costs and fixed operating (nonmanufacturing) overhead costs include $8,000 of depreciation costs. Direct manufacturing labor and the remaining manufacturing and operating (nonmanufacturing) L. Print Done Print Done Help me solve this Calculator Get more help swer = Homework: Ch 6 Quiz = Question 3, P6-43 (simil.. Part 1 of 7 HW Score: 0%, 0 of 25 points Points: 0 of 8 Save Next question 2x Skubas, Inc., manufactures and sells snowboards. Skubas manufactures a single model, the Pipex. In late 20 Skubas's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the budgeted balances and additional information pertaining to the cash budget.) (Click the icon to view the additional variable and fixed manufacturing cost information.) ) Data table Requirement 1. Prepare a cash budget for January 2021. Show supporting schedules for the calculation of of (nonmanufacturing) overhead. Materials and Labor Requirements Direct materials Wood 8 board feet (b.f.) per snowboard Fiberglass 6 yards per snowboard Direct manufacturing labor 6 hours per snowboard Begin by preparing the supporting schedule for the calculation of collection of receivables. Schedule of Cash Collections From December 2020 sales Skubas CEO expects to sell 1,800 snowboards during January 2021 at an estimated relail 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 From January 2021 sales Total collections 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 29.00 per b.l. Wood S S 2021 Unit Price 31.00 per b.f. 10.00 per yard 26.00 per hour S S Fiberglass Direct manufacturing labor 5.00 per yard 25.00 per hour S S Print Done Help me solve this Calculator Get more help r F mathxl.com U + Bb Blackboard Learn Content Do Homewark - Ch 6 Quiz Do Homework - Ch 8 Quiz C Home | Chegg.com ACCT A334 Fall 2021_PC2 Eyosias Teshome : 11/14/21 2:11 PM - = Homework: Ch 6 Quiz - X Reference Skubas, Inc., manufactures and sells snowboards. Skubes manufactures a single Skubas's management accountant gathered the following data to prepare budget (Click the icon to view the budgeted balances and additional information perte A (Click the icon to view the additional variable and fixed manufacturing cost in Next question Revenue Budget For January 2021 Units Selling price Total revenues Snowboards 1,800 $ 550 $ 990,000 Requirement 1. Prepare a cash budget for January 2021. Show supporting sche (nonmanufacturing) overhead. Begin by preparing the supporting schedule for the calculation of collection of rece Direct Materials Purchases Budget For January 2021 Materials Wood Fiberglass Total Schedule of Cash Collections From December 2020 sales From January 2021 sales 16,000 b.f. 1,510 bt. Total collections Physical Units Budget To be used in production Add target ending inventory Total requirement Deduct beginning inventory Purchases to be made Cost Budget 17,510 b. 2,010 b.1. 15,500 b.f. 12.000 yards 2,500 yards 14,500 yards 1.010 yards 13.490 yards $ 480,500 $ 134.900 S Purchases 615 400 Direct Manufacturing Labor Costs Budget Print Done Help me solve this Calculator Get more help Clear all Check answer E Homework: Ch 6 Quiz Reference Next question Skubas, Inc., manufactures and sells snowboards. Skubas manufactures a single Skubas's management accountant gathered the following data to prepare budget (Click the icon to view the budgeted balances and additional information perta (Click the icon to view the additional variable and fixed manufacturing cost in Direct Manufacturing Labor Costs Budget For January 2021 Output Units DMLH Total Hourly Produced per Unit Hours Wage Rate Total Snowboards 2,000 8 12.000 S 26 $ 312,000 Total labor hours x * Variable mariufacturing overhead rate = Variable manufacturing overhead costs 12,000 x 10 = $ 120,000 Requirement 1. Prepare a cash budget for January 2021. Show supporting sched (nonmanufacturing) overhead. Begin by preparing the supporting schedule for the calculation of collection of rece Schedule of Cash Collections From December 2020 sales Ending Inventories Budget For January 2021 Quantity Cost per unit From January 2021 sales Total Total collections Direct materials Wood Fiberglass 1.510 $ $ 2.500 31 $ 10 46,810 25,000 Finished goods Snowboard 700 $ 536 375,200 $ 447,010 Total ending inventory [ Print Done Help me solve this Calculator Get more help Clear all Check answer E Homework: Ch 6 Quiz - X Reference Next question Skubas, Inc., manufactures and sells snowboards. Skubas manufactures a single Skubas's management accountant gathered the following data to prepare budget (Click the icon to view the budgeted balances and additional information pert A (Click the icon to view the additional variable and fixed manufacturing cost in Revenue Budget For January 2021 Units Selling price Total revenues 1,800 S 550 $ 990,000 Snowboards Requirement 1. Prepare a cash budget for January 2021. Show supporting sche (nonmanufacturing) overhead. Direct Materials Purchases Budget For January 2021 Materials Wood Fiberglass Total Begin by preparing the supporting schedule for the calculation of collection of rece Schedule of Cash Collections From December 2020 sales From January 2021 sales Physical Units Budget To be used in production Add target onding inventory Total requirement Deduct beginning inventory Purchases to be made Cost Budget 16,000 b.f. 1,510 b.f. 17,510 b.t. Total collections 12,000 yards 2.500 yards 14,500 yards 1.010 yards 13.490 yards 2,010 b.t. 15,500 b.f $ 480.500 $ $ 134.900 S S 615.400 Purchases Direct Manufacturing Labor Costs Budget Print Done Help me solve this Calculator Get more help Clear all Check answer = Homework: Ch 6 Quiz Question 3, P6-43 (simil... Part 1 of 7 HW Score: 0%, 0 of 25 points O Points: 0 of 8 Save Next question Data table - X 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 budgeted balances and additional information pertaining to the cash budget.) (Click the icon to view the additional variable and fixed manufacturing cost information.) irect ? ? Requirement 1. Prepare a cash budget for January 2021. Show supporting schedules for the calculation of collection of rec (nonmanufacturing) overhead. ? 7 Budgeted balances at January 31, 2021 are as follows: Cash Accounts receivable Inventory Property, plant, and equipment (net) Accounts payable Long-term liabilities Stockholders' equity S Begin by preparing the supporting schedule for the calculation of collection of receivables. 851,000 ? ? 179.000 ? Schedule of Cash Collections From December 2020 sales From January 2021 sales Total collections 11,000 Selected budgeted information for December 2020 follows: Cash balance, December 31, 2020 $ Budgeted sales Budgeted materials purchases -X 1.780,000 630,000 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. Varlable 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. Customer invoices are payable within 30 days. From past experience, Skubas's accountant projects 25% of invoices will be collected in the month invoiced, and 75% will be collected in the following month. Accounts payable relates only to the purchase of direct materials. Direct materials are purchased on credit with 30% of direct materials purchases paid during the month of the purchase, and 70% paid in the month following purchase. Fixed manufacturing overhead costs include $13,000 of depreciation costs and fixed operating (nonmanufacturing) overhead costs include $8,000 of depreciation costs. Direct manufacturing labor and the remaining manufacturing and operating (nonmanufacturing) L. Print Done Print Done Help me solve this Calculator Get more help swer = Homework: Ch 6 Quiz = Question 3, P6-43 (simil.. Part 1 of 7 HW Score: 0%, 0 of 25 points Points: 0 of 8 Save Next question 2x Skubas, Inc., manufactures and sells snowboards. Skubas manufactures a single model, the Pipex. In late 20 Skubas's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the budgeted balances and additional information pertaining to the cash budget.) (Click the icon to view the additional variable and fixed manufacturing cost information.) ) Data table Requirement 1. Prepare a cash budget for January 2021. Show supporting schedules for the calculation of of (nonmanufacturing) overhead. Materials and Labor Requirements Direct materials Wood 8 board feet (b.f.) per snowboard Fiberglass 6 yards per snowboard Direct manufacturing labor 6 hours per snowboard Begin by preparing the supporting schedule for the calculation of collection of receivables. Schedule of Cash Collections From December 2020 sales Skubas CEO expects to sell 1,800 snowboards during January 2021 at an estimated relail 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 From January 2021 sales Total collections 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 29.00 per b.l. Wood S S 2021 Unit Price 31.00 per b.f. 10.00 per yard 26.00 per hour S S Fiberglass Direct manufacturing labor 5.00 per yard 25.00 per hour S S Print Done Help me solve this Calculator Get more help r F mathxl.com U + Bb Blackboard Learn Content Do Homewark - Ch 6 Quiz Do Homework - Ch 8 Quiz C Home | Chegg.com ACCT A334 Fall 2021_PC2 Eyosias Teshome : 11/14/21 2:11 PM - = Homework: Ch 6 Quiz - X Reference Skubas, Inc., manufactures and sells snowboards. Skubes manufactures a single Skubas's management accountant gathered the following data to prepare budget (Click the icon to view the budgeted balances and additional information perte A (Click the icon to view the additional variable and fixed manufacturing cost in Next question Revenue Budget For January 2021 Units Selling price Total revenues Snowboards 1,800 $ 550 $ 990,000 Requirement 1. Prepare a cash budget for January 2021. Show supporting sche (nonmanufacturing) overhead. Begin by preparing the supporting schedule for the calculation of collection of rece Direct Materials Purchases Budget For January 2021 Materials Wood Fiberglass Total Schedule of Cash Collections From December 2020 sales From January 2021 sales 16,000 b.f. 1,510 bt. Total collections Physical Units Budget To be used in production Add target ending inventory Total requirement Deduct beginning inventory Purchases to be made Cost Budget 17,510 b. 2,010 b.1. 15,500 b.f. 12.000 yards 2,500 yards 14,500 yards 1.010 yards 13.490 yards $ 480,500 $ 134.900 S Purchases 615 400 Direct Manufacturing Labor Costs Budget Print Done Help me solve this Calculator Get more help Clear all Check answer E Homework: Ch 6 Quiz Reference Next question Skubas, Inc., manufactures and sells snowboards. Skubas manufactures a single Skubas's management accountant gathered the following data to prepare budget (Click the icon to view the budgeted balances and additional information perta (Click the icon to view the additional variable and fixed manufacturing cost in Direct Manufacturing Labor Costs Budget For January 2021 Output Units DMLH Total Hourly Produced per Unit Hours Wage Rate Total Snowboards 2,000 8 12.000 S 26 $ 312,000 Total labor hours x * Variable mariufacturing overhead rate = Variable manufacturing overhead costs 12,000 x 10 = $ 120,000 Requirement 1. Prepare a cash budget for January 2021. Show supporting sched (nonmanufacturing) overhead. Begin by preparing the supporting schedule for the calculation of collection of rece Schedule of Cash Collections From December 2020 sales Ending Inventories Budget For January 2021 Quantity Cost per unit From January 2021 sales Total Total collections Direct materials Wood Fiberglass 1.510 $ $ 2.500 31 $ 10 46,810 25,000 Finished goods Snowboard 700 $ 536 375,200 $ 447,010 Total ending inventory [ Print Done Help me solve this Calculator Get more help Clear all Check answer E Homework: Ch 6 Quiz - X Reference Next question Skubas, Inc., manufactures and sells snowboards. Skubas manufactures a single Skubas's management accountant gathered the following data to prepare budget (Click the icon to view the budgeted balances and additional information pert A (Click the icon to view the additional variable and fixed manufacturing cost in Revenue Budget For January 2021 Units Selling price Total revenues 1,800 S 550 $ 990,000 Snowboards Requirement 1. Prepare a cash budget for January 2021. Show supporting sche (nonmanufacturing) overhead. Direct Materials Purchases Budget For January 2021 Materials Wood Fiberglass Total Begin by preparing the supporting schedule for the calculation of collection of rece Schedule of Cash Collections From December 2020 sales From January 2021 sales Physical Units Budget To be used in production Add target onding inventory Total requirement Deduct beginning inventory Purchases to be made Cost Budget 16,000 b.f. 1,510 b.f. 17,510 b.t. Total collections 12,000 yards 2.500 yards 14,500 yards 1.010 yards 13.490 yards 2,010 b.t. 15,500 b.f $ 480.500 $ $ 134.900 S S 615.400 Purchases Direct Manufacturing Labor Costs Budget Print Done Help me solve this Calculator Get more help Clear all Check