HW Score: 0 of 100 Score: 0 of 100 pts P6-43 (similar to) Scanboards, des matures angle model that in 2020, Se's management accountant Othered foowing data to prepare budget for any 2001 Tow the tooted balances and an information per the cash budget het vw the tonal variable and feed manufacturing out information) Click then to where Inventory information Cet vi he foowing selected any 2001 Direct maning bocco, Vastgoed Read the Requirement. Precerea cuth Duboet for Jay 2021. now oporing schedules for the code of cobection of recomien med payments of accounts payab. d for duburants troud rahas romancing word Begin to the supporting schedule for the cution of collection of receivabim Schedule of Cash Collections From December 2020 werberinte de and then click Check Answer 6 CA Check ind 36 PM BE A of Type here to search DI di co Prisen Home End Po on F2 14 & 7 2 3 5 6 8 6-43 1 of 1 (0 complete) anul i Data Table ata tion mal ? sha ? 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 ? on $ 857,000 ? 185,000 ho ? Selected budgeted information for December 2020 follows: Cash balance, December 31, 2020 $ 17,000 Budgeted sales 1,740,000 Budgeted materials purchases 750,000 Customer invoices are payable within 30 days. From past experience, Slides's accountant projects 45% of invoices will be collected in the month invoiced, and 55% 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 $37,000 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) Print Done i ng schedule for the calculation of Cash Collections Selected budgeted information for December 2020 follows: Cash balance, December 31, 2020 17,000 Budgeted sales 1.740,000 Budgeted materials purchases 750,000 Customer invoices are payable within 30 days. From past experience, Slides's accountant projects 45% of invoices will be collected in the month invoiced, and 55% 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 537,000 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) overhead costs are paid monthly All property, plant, and equipment acquired during January 2021 were purchased on credit and did not entail any outflow of cash. There were no borrowings or repayments with respect to long-term liabilities in January 2021 On December 15, 2020. Slides's board of directors voted to pay a $170,000 dividend to stockholders on January 31, 2021. Ids and then click Check An Print Done E ch . Presch sk. Home 19 End 10 F6 F $ 4 % 5 & 7 8 9 6 3 1 of 1 (0 complete) Janufactures a single model, the Pipex. In late 2020, Hata to prepare budgets for January 2021: itional Information pertaining to the cash budget.) al manufacturing cost information.) (Click the icon to view the materials and labor require inventory information.) (Click the icon to view the following selected January Direct manufacturing labor cost, Variable manufacturing Read the requirements Show supporting schedules for the calculation of collection of receivables and payments of accounts payable, and fo tign of collection of motivables. More Info - X Variable manufacturing overhead is $17 per direct manufacturing labor-hour. There are also $54,000 in fised manufacturing overhead costs budgeted for January 2021. Slides combines both variable and Mixed manufacturing overhead into a single rate based on direct manufacturing labor-hours. Variable marketing costs are allocated at the rate of 5320 per sales visit. The marketing plan calls for 41 sales visits during January 2021. Finally, there are $38,000 in fixed operating (nonmanufacturing) costs budgeted for January 2021. Print Done Answer Clear All F5 F6 PrtScn Home oblem 6-43 1 of 1 (0 complete) Data Table - ts, the budg pad an Materials and Labor Requirements Direct materials Wood 14 board feet (b.f.) per snowboard Fiberglass 12 yards per snowboard Direct manufacturing labor 5 hours per snowboard Slides' CEO expects to sell 3,500 snowboards during January 2021 at an estimated retail price of $950 per board. Further, the CEO expects 2021 beginning inventory of 800 snowboards and would like to end January 2021 with 900 snowboards in stock. bursem Direct Materials Inventories Beginning Inventory Ending Inventory January January 1, 2021 31, 2021 2.070 b. 1,570 b.f. 1,070 yards 2,070 yards Wood Fiberglass Other data include: 2020 Unit Price 2021 Unit Price $ $ Wood Fiberglass Direct manufacturing labor $ 35.00 per b. 11.00 per yard 31.00 per hour $ 37.00 per b.f. 12.00 per yard 32.00 per hour $ $ Print Done Clear All 41) FS F6 PrtScn F7 Home End 2,070 b.f. Fiberglass 1,070 yards 1,570 b.f. 2,070 yards Other data include: 2020 Unit Price 2021 Unit Price Wood S 35.00 per bot. $ 37.00 per b.f. Fiberglass S 11.00 per yard $ 12.00 per yard Direct manufacturing labor S 31.00 per hour $ 32.00 per hour The inventoriable unit cost for ending finished-goods inventory on December 31, 2020, is $190.00 Assume Slides uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Print Done Clear All F4 FS F6 F7 PrtScn F8 Home En % F9