I just want requirement 7 and 8 solution

The Scarborough Corporation manufactures and sells two products: Thingone and Thingtwo. In July 2019, Scarborough's budget department gathered the following data to prepare budgets for 2020:

2020 Projected Sales

	Product	Units		Price
	Thingone	63,000		$170
	Thingtwo	48,000		$262

2020 Inventories in Units

		Expected Target
	Product	January 1, 2020		December 31, 2020
	Thingone	20,000		25,000
	Thingtwo	14,000		15,000

Actual and Projected Direct Materials Data

The following direct materials are used in the two products:

	Amount Used per Unit
Direct Material	Unit	Thingone	Thingtwo
A	pound	4	5
B	pound	2	3
C	each	0	1

Projected data for 2020 for direct materials are:

	Anticipated		Expected		Target
Direct	Purchase		Inventories		Inventories
Material	Price		January 1, 2020		December 31, 2020
A	$16		32,000	lb.	37,000	lb.
B	9		27,000	lb.	30,000	lb.
C	7		6,000	units	7,000	units

Projected direct manufacturing labor requirements and rates for 2020 are:

	Product	Hours per Unit	Rate per Hour
	Thingone	2	$16
	Thingtwo	3	$19

7. Budgeted finished-goods inventory at December 31, 2020 (in dollars)

8.What questions might the CEO ask the production manager when reviewing the production, direct materials, and direct manufacturing labor budgets?

9.How does preparing a budget help Scarborough Corporation's top management better manage the company?

Requirement 1. Prepare the revenues budget (in dollars).

Revenues Budget
For the Year Ending December 31, 2020
	Units	Price	Total
Thingone	63,000	$170	$10,710,000
Thingtwo	48,000	262	12,576,000
Budgeted revenues			$23,286,000

Requirement 2. What questions might the CEO ask the marketing manager when reviewing the revenuesbudget? Explain briefly. (Select all that apply.)

Is the revenue growing faster than the market?

Should the company increase marketing and advertising spending to grow sales?

Would increasing the sales force or giving salespersons stronger incentives result in higher sales?

Requirement 3. Prepare the production budget (in units).

Production Budget (in Units)
For the Year Ending December 31, 2020
		Thingone	Thingtwo
Budgeted unit sales		63,000	48,000
Add target ending finished goods inventory		25,000	15,000
Total required units		88,000	63,000
Deduct beginning finished goods inventory		20,000	14,000
Units of finished goods to be produced		68,000	49,000

Requirement 4. Prepare the direct material purchases budget (in quantities). (For entries with a 0 balance, make sure to enter "0" in the appropriate field.)

Direct Materials Purchases Budget (in Quantities)
For the Year Ending December 31, 2020
		Direct Materials
		A	B	C
To be used in production
Thingone		272,000	136,000	0
Thingtwo		245,000	147,000	49,000
Total		517,000	283,000	49,000
Add target ending inventory		37,000	30,000	7,000
Total requirements		554,000	313,000	56,000
Deduct beginning inventory		32,000	27,000	6,000
Purchases to be made (units)		522,000	286,000	50,000

Requirement 5. Prepare the direct material purchases budget (in dollars).

Direct Materials Purchases Budget (in Dollars)
For the Year Ending December 31, 2020
	Budgeted	Expected
	Purchases	Purchase
	(Units)	Price per unit	Total
Direct material A	522,000	$16	$8,352,000
Direct material B	286,000	9	2,574,000
Direct material C	50,000	7	350,000
Budgeted purchases			$11,276,000

Requirement 6. Prepare the direct manufacturing labor budget (in dollars).

Direct Manufacturing Labor Costs Budget
For the Year Ending December 31, 2020
	Budgeted	Direct Manufacturing
	Production	Labor-Hours	Total	Hourly
	(Units)	per Unit	Hours	Wage Rate	Total
Thingone	68,000	2	136,000	$16	$2,176,000
Thingtwo	49,000	3	147,000	19	2,793,000
Total					$4,969,000

Requirement 7. Prepare the budgeted finished-goods inventory at December 31, 2020 (in dollars).

Begin by calculating finished goods for Thingone, then calculate Thingtwo and the total budgeted finished goods. (For entries with a $0 balance, make sure to enter "0" in the appropriate field.)

Scarborough Corporation
Budgeted Finished Goods Inventory
December 31, 2020
Thingone:
Direct materials costs per unit:
A	?
B	?
C	?	?
Direct manufacturing labor costs per unit		?
Manufacturing overhead costs per unit of Thingone		?
Budgeted manufacturing costs per unit		?
Finished goods inventory of Thingone		?

Requirement 8:

Scarborough Corporation
Budgeted Finished Goods Inventory
December 31, 2020
Thingtwo:
Direct materials costs per unit:
A	?
B	?
C	?	?
Direct manufacturing labor costs per unit		?
Manufacturing overhead costs per unit of Thingtwo		?
Budgeted manufacturing costs per unit		?
Finished goods inventory of Thingtwo		?