i need help on my master budget project. the instrustions are on the first page of the spreadsheet

Business 1B - Managerial Accounting - Master Budget Comprehensive Project Rename this file with your full name and class section number before submitting. IMPORTANT: ENTER DATA ONLY WHERE YOU SEE AN OUTLINED GREY BOX. DO NOT ENTER DATA IN CELLS CONTAINING " -", "0", or "#VALUE!" Radical Boards, Inc. manufactures and sells a single model of snowboard, the Vortex. In the summer of 2014, Ziggy Sawdust, CPA, provided data for the 2015 budget: The unit cost for ending FG inventory at 12/31/14 was $374.80. Ignore Work In Process Direct Material Requirements (per snowboard) Wood 5 board feet (b.f.) Fiberglass 6 yards Direct Labor Requirements 5 hours The 2015 Budget Includes the following selected balances: Cash Property, Plant, and Equipment Current Liabilities Long Term Liabilities Capital Stock $ 10,000.00 $ 900,000.00 $ 17,000.00 $ 178,000.00 $ 600,000.00 Retained Earnings at balance at 12/31/14 $ 184,980.00 Expected sales during 2015 - 1000 units at $500 per unit Expected inventory balances: 1/1/2015 12/31/2015 Finished Goods 100 200 Wood Raw Material 2000 b.f. 1500 b.f. Fiberglass Raw Material 1000 yards 2000 yards Other data: Wood Fiberglass Direct labor Variable Overhead Fixed Overhead Overhead Driver Variable marketing costs Expected sales visits in 2015 Fixed non-overhead costs Unit Prices $30.00 per b.f. $5.00 per yard $25.00 per hour $7.00 per dlh $66,000 DL Hours $250 per sales visits 30 $30,000 Required: Prepare the following reports for the year 2015 1 Sales Budget in dollars 2 Production Budget in units 3 Direct Materials Budget 4 Direct Labor Budget 5 Manufacturing Overhead Budget 6 Predetermined Overhead Rate 7 Estimated Overhead to be Applied to One Snowboard 8 Calculate the cost to manufacture a snowboard 9 Budgeted Ending Inventory for Materials and Finished Goods 10 Cost of Goods Sold Budget 11 Budgeted Income Statement 12 Budgeted Balance Sheet Part 1 - Sales Budget Estimated Unit Sales Unit Sales Price Estimated Dollar Sales 2015 #VALUE! Part 2 - Production Budget Budgeted Unit Sales Add: ending FG inventory = Total Requirements Less: beginning FG inventory = Units to Produce 0 #VALUE! Part 3 - Direct Materials Budget Material needed for production (units) Add: target ending inventory = Total Requirements Less: beginning inventory = Budgeted Direct Material Purchases x Cost per unit of Direct Material = Cost of Direct Materials Purchases Wood #VALUE! Fiberglass #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! Total #VALUE! Part 3A - Direct Materials used Beginning Inventory Add: Purchases Less: Ending Inventory = Direct Materials Used Wood Fiber Glass #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! Total #VALUE! Part 4 - Direct Labor Budget Part 6 - POHR Units to Produce x Direct Labor Hours Per Unit = Total Direct Labor Hours x Direct Labor Rate = Direct Labor Cost Total Overhead / Expected Units in Activity Base = POHR (per Direct Labor Hour) #VALUE! #VALUE! Part 5 - Overhead Budget Variable Manufacturing Overhead Fixed Manufacturing Overhead Total Overhead #VALUE! #VALUE! #VALUE! Part 7 - Overhead Cost Applied to One Snowboard #VALUE! #VALUE! # of DL Hours to Produce One Snowboard x POHR = Overhead Cost in One Snowboard #VALUE! #VALUE! Part 8 - Cost to Manufacture One Snowboard Part 10 - Cost of Goods Sold Budget Direct Material Inputs Wood Fiberglass Direct Labor Inputs Overhead Inputs Total Cost of One Snowboard Beginning Finished Goods Inventory Add: Direct Materials Used Direct Labor Added Overhead Applied Total Manufacturing Costs Cost of Goods Available for Sale Less: Ending Finished Goods Inventory = Cost of Goods Sold $ - Part 9 - Budgeted Ending Inventory for Materials and Finished Goods Units Cost Per Unit Total Raw Materials Wood Fiberglass #VALUE! #VALUE! Finished Goods #VALUE! Total #VALUE! $ $ #VALUE! Part 11 - Budgeted Income Statement Sales Revenue Less: Cost of Goods Sold = Gross Profit Less: Operating Expenses Variable marketing costs Fixed non-manufacturing costs =Operating Income #VALUE! $ #VALUE! Part 12 - Budgeted Balance Sheet Cash Inventory PPE Total Assets Current Liabilities Long-Term Liabilities Capital Stock Retained Earnings $ - Total Liabilities & Equity $ - Business 1B - Managerial Accounting - Master Budget Comprehensive Project Rename this file with your full name and class section number before submitting. IMPORTANT: ENTER DATA ONLY WHERE YOU SEE AN OUTLINED GREY BOX. DO NOT ENTER DATA IN CELLS CONTAINING " -", "0", or "#VALUE!" Radical Boards, Inc. manufactures and sells a single model of snowboard, the Vortex. In the summer of 2014, Ziggy Sawdust, CPA, provided data for the 2015 budget: The unit cost for ending FG inventory at 12/31/14 was $374.80. Ignore Work In Process Direct Material Requirements (per snowboard) Wood 5 board feet (b.f.) Fiberglass 6 yards Direct Labor Requirements 5 hours The 2015 Budget Includes the following selected balances: Cash Property, Plant, and Equipment Current Liabilities Long Term Liabilities Capital Stock $ 10,000.00 $ 900,000.00 $ 17,000.00 $ 178,000.00 $ 600,000.00 Retained Earnings at balance at 12/31/14 $ 184,980.00 Expected sales during 2015 - 1000 units at $500 per unit Expected inventory balances: 1/1/2015 12/31/2015 Finished Goods 100 200 Wood Raw Material 2000 b.f. 1500 b.f. Fiberglass Raw Material 1000 yards 2000 yards Other data: Wood Fiberglass Direct labor Variable Overhead Fixed Overhead Overhead Driver Variable marketing costs Expected sales visits in 2015 Fixed non-overhead costs Unit Prices $30.00 per b.f. $5.00 per yard $25.00 per hour $7.00 per dlh $66,000 DL Hours $250 per sales visits 30 $30,000 Required: Prepare the following reports for the year 2015 1 Sales Budget in dollars 2 Production Budget in units 3 Direct Materials Budget 4 Direct Labor Budget 5 Manufacturing Overhead Budget 6 Predetermined Overhead Rate 7 Estimated Overhead to be Applied to One Snowboard 8 Calculate the cost to manufacture a snowboard 9 Budgeted Ending Inventory for Materials and Finished Goods 10 Cost of Goods Sold Budget 11 Budgeted Income Statement 12 Budgeted Balance Sheet 66000 5000 13.2 Part 1 - Sales Budget Estimated Unit Sales Unit Sales Price Estimated Dollar Sales 2015 $ $ 1000 500.00 500,000.00 Part 2 - Production Budget Budgeted Unit Sales Add: ending FG inventory = Total Requirements Less: beginning FG inventory = Units to Produce 1000 200 1200 100 1100 Part 3 - Direct Materials Budget Material needed for production (units) Add: target ending inventory = Total Requirements Less: beginning inventory = Budgeted Direct Material Purchases x Cost per unit of Direct Material = Cost of Direct Materials Purchases Wood Fiberglass Total 5500 6600 1500 2000 7000 8600 2000 1000 5000 7600 30 5 $ 150,000.00 $ 38,000.00 $ 188,000.00 Part 3A - Direct Materials used Beginning Inventory Add: Purchases Less: Ending Inventory = Direct Materials Used Wood Fiber Glass $ 60,000.00 $ 5,000.00 $ 150,000.00 $ 38,000.00 $ 45,000.00 $ 10,000.00 $ 165,000.00 $ 33,000.00 Total $ 198,000.00 Part 4 - Direct Labor Budget Units to Produce x Direct Labor Hours Per Unit = Total Direct Labor Hours x Direct Labor Rate = Direct Labor Cost Part 6 - POHR 1100 5 5500 $ 25.00 $ 137,500.00 Part 5 - Overhead Budget Variable Manufacturing Overhead Fixed Manufacturing Overhead Total Overhead Total Overhead / Expected Units in Activity Base = POHR (per Direct Labor Hour) $ 104,500.00 5500 $ 19.00 Part 7 - Overhead Cost Applied to One Snowboard $ 38,500.00 $ 66,000.00 $ 104,500.00 # of DL Hours to Produce One Snowboard x POHR = Overhead Cost in One Snowboard 5500 $ 19.00 $ 104,500.00 Part 8 - Cost to Manufacture One Snowboard Part 10 - Cost of Goods Sold Budget Direct Material Inputs Wood Fiberglass Direct Labor Inputs Overhead Inputs Total Cost of One Snowboard Beginning Finished Goods Inventory $ 37,480.00 Add: Direct Materials Used $ 198,000.00 Direct Labor Added $ 137,500.00 Overhead Applied $ 104,500.00 Total Manufacturing Costs $ 440,000.00 Cost of Goods Available for Sale $ 477,480.00 Less: Ending Finished Goods Inventory $ 58,800.00 = Cost of Goods Sold $ 418,680.00 $ $ $ $ $ 150.00 30.00 125.00 101.00 406.00 Part 9 - Budgeted Ending Inventory for Materials and Finished Goods Units Raw Materials Wood Fiberglass 1500 $ 2000 $ Finished Goods 200 $ Total Cost Per Unit Total 30.00 $ 5.00 $ 19.00 45,000.00 10,000.00 $ 3,800.00 $ 58,800.00 Part 11 - Budgeted Income Statement Sales Revenue Less: Cost of Goods Sold = Gross Profit Less: Operating Expenses Variable marketing costs Fixed non-manufacturing costs =Operating Income $ $ $ 500,000.00 418,680.00 81,320.00 $ 7,500.00 $ 30,000.00 $ $ 37,500.00 43,820.00 Current Liabilities Long-Term Liabilities Capital Stock Retained Earnings $ $ $ $ 17,000.00 178,000.00 600,000.00 228,800.00 Total Liabilities & Equity $ 1,023,800.00 Part 12 - Budgeted Balance Sheet Cash Inventory PPE $ $ $ 10,000.00 113,800.00 900,000.00 Total Assets $ 1,023,800.00 Business 1B - Managerial Accounting - Master Budget Comprehensive Project Rename this file with your full name and class section number before submitting. IMPORTANT: ENTER DATA ONLY WHERE YOU SEE AN OUTLINED GREY BOX. DO NOT ENTER DATA IN CELLS CONTAINING " -", "0", or "#VALUE!" Radical Boards, Inc. manufactures and sells a single model of snowboard, the Vortex. In the summer of 2014, Ziggy Sawdust, CPA, provided data for the 2015 budget: The unit cost for ending FG inventory at 12/31/14 was $374.80. Ignore Work In Process Direct Material Requirements (per snowboard) Wood 5 board feet (b.f.) Fiberglass 6 yards Direct Labor Requirements 5 hours The 2015 Budget Includes the following selected balances: Cash Property, Plant, and Equipment Current Liabilities Long Term Liabilities Capital Stock $ 10,000.00 $ 900,000.00 $ 17,000.00 $ 178,000.00 $ 600,000.00 Retained Earnings at balance at 12/31/14 $ 184,980.00 Expected sales during 2015 - 1000 units at $500 per unit Expected inventory balances: 1/1/2015 12/31/2015 Finished Goods 100 200 Wood Raw Material 2000 b.f. 1500 b.f. Fiberglass Raw Material 1000 yards 2000 yards Other data: Wood Fiberglass Direct labor Variable Overhead Fixed Overhead Overhead Driver Variable marketing costs Expected sales visits in 2015 Fixed non-overhead costs Unit Prices $30.00 per b.f. $5.00 per yard $25.00 per hour $7.00 per dlh $66,000 DL Hours $250 per sales visits 30 $30,000 Required: Prepare the following reports for the year 2015 1 Sales Budget in dollars 2 Production Budget in units 3 Direct Materials Budget 4 Direct Labor Budget 5 Manufacturing Overhead Budget 6 Predetermined Overhead Rate 7 Estimated Overhead to be Applied to One Snowboard 8 Calculate the cost to manufacture a snowboard 9 Budgeted Ending Inventory for Materials and Finished Goods 10 Cost of Goods Sold Budget 11 Budgeted Income Statement 12 Budgeted Balance Sheet Part 1 - Sales Budget Estimated Unit Sales Unit Sales Price Estimated Dollar Sales 2015 $ $ 1000 500.00 500,000.00 Part 2 - Production Budget Budgeted Unit Sales Add: ending FG inventory = Total Requirements Less: beginning FG inventory = Units to Produce 1000 200 1200 100 1100 Part 3 - Direct Materials Budget Material needed for production (units) Add: target ending inventory = Total Requirements Less: beginning inventory = Budgeted Direct Material Purchases x Cost per unit of Direct Material = Cost of Direct Materials Purchases Wood Fiberglass Total 5500 6600 1500 2000 7000 8600 2000 1000 5000 7600 30 5 $ 150,000.00 $ 38,000.00 $ 188,000.00 Part 3A - Direct Materials used Beginning Inventory Add: Purchases Less: Ending Inventory = Direct Materials Used Wood Fiber Glass $ 60,000.00 $ 5,000.00 $ 150,000.00 $ 38,000.00 $ 45,000.00 $ 10,000.00 $ 165,000.00 $ 33,000.00 Total $ 198,000.00 Part 4 - Direct Labor Budget Units to Produce x Direct Labor Hours Per Unit = Total Direct Labor Hours x Direct Labor Rate = Direct Labor Cost Part 6 - POHR 1100 5 5500 $ 25.00 $ 137,500.00 Part 5 - Overhead Budget Variable Manufacturing Overhead Fixed Manufacturing Overhead Total Overhead Total Overhead / Expected Units in Activity Base = POHR (per Direct Labor Hour) $ 104,500.00 5500 $ 19.00 Part 7 - Overhead Cost Applied to One Snowboard $ 38,500.00 $ 66,000.00 $ 104,500.00 # of DL Hours to Produce One Snowboard x POHR = Overhead Cost in One Snowboard $ $ 5 19.00 95.00 Part 8 - Cost to Manufacture One Snowboard Part 10 - Cost of Goods Sold Budget Direct Material Inputs Wood Fiberglass Direct Labor Inputs Overhead Inputs Total Cost of One Snowboard Beginning Finished Goods Inventory $ 37,480.00 Add: Direct Materials Used $ 198,000.00 Direct Labor Added $ 137,500.00 Overhead Applied $ 104,500.00 Total Manufacturing Costs $ 440,000.00 Cost of Goods Available for Sale $ 477,480.00 Less: Ending Finished Goods Inventory $ 80,000.00 = Cost of Goods Sold $ 397,480.00 $ $ $ $ $ 30.00 5.00 25.00 95.00 155.00 Part 9 - Budgeted Ending Inventory for Materials and Finished Goods Units Cost Per Unit Total Raw Materials Wood Fiberglass 1500 $ 2000 $ 30.00 $ 5.00 $ 45,000.00 10,000.00 Finished Goods 200 $ 125.00 $ 25,000.00 $ 80,000.00 Total Part 11 - Budgeted Income Statement Sales Revenue Less: Cost of Goods Sold = Gross Profit Less: Operating Expenses Variable marketing costs Fixed non-manufacturing costs =Operating Income $ $ $ 500,000.00 397,480.00 102,520.00 $ 7,500.00 $ 30,000.00 $ $ 37,500.00 65,020.00 Current Liabilities Long-Term Liabilities Capital Stock Retained Earnings $ $ $ $ 17,000.00 178,000.00 600,000.00 250,000.00 Total Liabilities & Equity $ 1,045,000.00 Part 12 - Budgeted Balance Sheet Cash Inventory PPE $ $ $ 10,000.00 135,000.00 900,000.00 Total Assets $ 1,045,000.00 Business 1B - Managerial Accounting - Master Budget Comprehensive Project Rename this file with your full name and class section number before submitting. IMPORTANT: ENTER DATA ONLY WHERE YOU SEE AN OUTLINED GREY BOX. DO NOT ENTER DATA IN CELLS CONTAINING " -", "0", or "#VALUE!" Radical Boards, Inc. manufactures and sells a single model of snowboard, the Vortex. In the summer of 2014, Ziggy Sawdust, CPA, provided data for the 2015 budget: The unit cost for ending FG inventory at 12/31/14 was $374.80. Ignore Work In Process Direct Material Requirements (per snowboard) Wood 5 board feet (b.f.) Fiberglass 6 yards Direct Labor Requirements 5 hours The 2015 Budget Includes the following selected balances: Cash Property, Plant, and Equipment Current Liabilities Long Term Liabilities Capital Stock $ 10,000.00 $ 900,000.00 $ 17,000.00 $ 178,000.00 $ 600,000.00 Retained Earnings at balance at 12/31/14 $ 184,980.00 Expected sales during 2015 - 1000 units at $500 per unit Expected inventory balances: 1/1/2015 12/31/2015 Finished Goods 100 200 Wood Raw Material 2000 b.f. 1500 b.f. Fiberglass Raw Material 1000 yards 2000 yards Other data: Wood Fiberglass Direct labor Variable Overhead Fixed Overhead Overhead Driver Variable marketing costs Expected sales visits in 2015 Fixed non-overhead costs Unit Prices $30.00 per b.f. $5.00 per yard $25.00 per hour $7.00 per dlh $66,000 DL Hours $250 per sales visits 30 $30,000 Required: Prepare the following reports for the year 2015 1 Sales Budget in dollars 2 Production Budget in units 3 Direct Materials Budget 4 Direct Labor Budget 5 Manufacturing Overhead Budget 6 Predetermined Overhead Rate 7 Estimated Overhead to be Applied to One Snowboard 8 Calculate the cost to manufacture a snowboard 9 Budgeted Ending Inventory for Materials and Finished Goods 10 Cost of Goods Sold Budget 11 Budgeted Income Statement 12 Budgeted Balance Sheet 66000 5000 13.2 Part 1 - Sales Budget Estimated Unit Sales Unit Sales Price Estimated Dollar Sales 2015 $ $ 1000 500.00 500,000.00 Part 2 - Production Budget Budgeted Unit Sales Add: ending FG inventory = Total Requirements Less: beginning FG inventory = Units to Produce 1000 200 1200 100 1100 Part 3 - Direct Materials Budget Material needed for production (units) Add: target ending inventory = Total Requirements Less: beginning inventory = Budgeted Direct Material Purchases x Cost per unit of Direct Material = Cost of Direct Materials Purchases Wood Fiberglass Total 5500 6600 1500 2000 7000 8600 2000 1000 5000 7600 30 5 $ 150,000.00 $ 38,000.00 $ 188,000.00 Part 3A - Direct Materials used Beginning Inventory Add: Purchases Less: Ending Inventory = Direct Materials Used Wood Fiber Glass $ 60,000.00 $ 5,000.00 $ 150,000.00 $ 38,000.00 $ 45,000.00 $ 10,000.00 $ 165,000.00 $ 33,000.00 Total $ 198,000.00 Part 4 - Direct Labor Budget Units to Produce x Direct Labor Hours Per Unit = Total Direct Labor Hours x Direct Labor Rate = Direct Labor Cost Part 6 - POHR 1100 5 5500 $ 25.00 $ 137,500.00 Part 5 - Overhead Budget Variable Manufacturing Overhead Fixed Manufacturing Overhead Total Overhead Total Overhead / Expected Units in Activity Base = POHR (per Direct Labor Hour) $ 104,500.00 5500 $ 19.00 Part 7 - Overhead Cost Applied to One Snowboard $ 38,500.00 $ 66,000.00 $ 104,500.00 # of DL Hours to Produce One Snowboard x POHR = Overhead Cost in One Snowboard 5500 $ 19.00 $ 104,500.00 Part 8 - Cost to Manufacture One Snowboard Part 10 - Cost of Goods Sold Budget Direct Material Inputs Wood Fiberglass Direct Labor Inputs Overhead Inputs Total Cost of One Snowboard Beginning Finished Goods Inventory $ 37,480.00 Add: Direct Materials Used $ 198,000.00 Direct Labor Added $ 137,500.00 Overhead Applied $ 104,500.00 Total Manufacturing Costs $ 440,000.00 Cost of Goods Available for Sale $ 477,480.00 Less: Ending Finished Goods Inventory $ 58,800.00 = Cost of Goods Sold $ 418,680.00 $ $ $ $ $ 150.00 30.00 125.00 101.00 406.00 Part 9 - Budgeted Ending Inventory for Materials and Finished Goods Units Raw Materials Wood Fiberglass 1500 $ 2000 $ Finished Goods 200 $ Total Cost Per Unit Total 30.00 $ 5.00 $ 19.00 45,000.00 10,000.00 $ 3,800.00 $ 58,800.00 Part 11 - Budgeted Income Statement Sales Revenue Less: Cost of Goods Sold = Gross Profit Less: Operating Expenses Variable marketing costs Fixed non-manufacturing costs =Operating Income $ $ $ 500,000.00 418,680.00 81,320.00 $ 7,500.00 $ 30,000.00 $ $ 37,500.00 43,820.00 Current Liabilities Long-Term Liabilities Capital Stock Retained Earnings $ $ $ $ 17,000.00 178,000.00 600,000.00 228,800.00 Total Liabilities & Equity $ 1,023,800.00 Part 12 - Budgeted Balance Sheet Cash Inventory PPE $ $ $ 10,000.00 113,800.00 900,000.00 Total Assets $ 1,023,800.00 Business 1B - Managerial Accounting - Master Budget Comprehensive Project Rename this file with your full name and class section number before submitting. IMPORTANT: ENTER DATA ONLY WHERE YOU SEE AN OUTLINED GREY BOX. DO NOT ENTER DATA IN CELLS CONTAINING " -", "0", or "#VALUE!" Radical Boards, Inc. manufactures and sells a single model of snowboard, the Vortex. In the summer of 2014, Ziggy Sawdust, CPA, provided data for the 2015 budget: The unit cost for ending FG inventory at 12/31/14 was $374.80. Ignore Work In Process Direct Material Requirements (per snowboard) Wood 5 board feet (b.f.) Fiberglass 6 yards Direct Labor Requirements 5 hours The 2015 Budget Includes the following selected balances: Cash Property, Plant, and Equipment Current Liabilities Long Term Liabilities Capital Stock $ 10,000.00 $ 900,000.00 $ 17,000.00 $ 178,000.00 $ 600,000.00 Retained Earnings at balance at 12/31/14 $ 184,980.00 Expected sales during 2015 - 1000 units at $500 per unit Expected inventory balances: 1/1/2015 12/31/2015 Finished Goods 100 200 Wood Raw Material 2000 b.f. 1500 b.f. Fiberglass Raw Material 1000 yards 2000 yards Other data: Wood Fiberglass Direct labor Variable Overhead Fixed Overhead Overhead Driver Variable marketing costs Expected sales visits in 2015 Fixed non-overhead costs Unit Prices $30.00 per b.f. $5.00 per yard $25.00 per hour $7.00 per dlh $66,000 DL Hours $250 per sales visits 30 $30,000 Required: Prepare the following reports for the year 2015 1 Sales Budget in dollars 2 Production Budget in units 3 Direct Materials Budget 4 Direct Labor Budget 5 Manufacturing Overhead Budget 6 Predetermined Overhead Rate 7 Estimated Overhead to be Applied to One Snowboard 8 Calculate the cost to manufacture a snowboard 9 Budgeted Ending Inventory for Materials and Finished Goods 10 Cost of Goods Sold Budget 11 Budgeted Income Statement 12 Budgeted Balance Sheet Part 1 - Sales Budget Estimated Unit Sales Unit Sales Price Estimated Dollar Sales 2015 $ $ 1000 500.00 500,000.00 Part 2 - Production Budget Budgeted Unit Sales Add: ending FG inventory = Total Requirements Less: beginning FG inventory = Units to Produce 1000 200 1200 100 1100 Part 3 - Direct Materials Budget Material needed for production (units) Add: target ending inventory = Total Requirements Less: beginning inventory = Budgeted Direct Material Purchases x Cost per unit of Direct Material = Cost of Direct Materials Purchases Wood Fiberglass Total 5500 6600 1500 2000 7000 8600 2000 1000 5000 7600 30 5 $ 150,000.00 $ 38,000.00 $ 188,000.00 Part 3A - Direct Materials used Beginning Inventory Add: Purchases Less: Ending Inventory = Direct Materials Used Wood Fiber Glass $ 60,000.00 $ 5,000.00 $ 150,000.00 $ 38,000.00 $ 45,000.00 $ 10,000.00 $ 165,000.00 $ 33,000.00 Total $ 198,000.00 Part 4 - Direct Labor Budget Units to Produce x Direct Labor Hours Per Unit = Total Direct Labor Hours x Direct Labor Rate = Direct Labor Cost Part 6 - POHR 1100 5 5500 $ 25.00 $ 137,500.00 Part 5 - Overhead Budget Variable Manufacturing Overhead Fixed Manufacturing Overhead Total Overhead Total Overhead / Expected Units in Activity Base = POHR (per Direct Labor Hour) $ 104,500.00 5500 $ 19.00 Part 7 - Overhead Cost Applied to One Snowboard $ 38,500.00 $ 66,000.00 $ 104,500.00 # of DL Hours to Produce One Snowboard x POHR = Overhead Cost in One Snowboard $ $ 5 19.00 95.00 Part 8 - Cost to Manufacture One Snowboard Part 10 - Cost of Goods Sold Budget Direct Material Inputs Wood Fiberglass Direct Labor Inputs Overhead Inputs Total Cost of One Snowboard Beginning Finished Goods Inventory $ 37,480.00 Add: Direct Materials Used $ 198,000.00 Direct Labor Added $ 137,500.00 Overhead Applied $ 104,500.00 Total Manufacturing Costs $ 440,000.00 Cost of Goods Available for Sale $ 477,480.00 Less: Ending Finished Goods Inventory $ 80,000.00 = Cost of Goods Sold $ 397,480.00 $ $ $ $ $ 30.00 5.00 25.00 95.00 155.00 Part 9 - Budgeted Ending Inventory for Materials and Finished Goods Units Cost Per Unit Total Raw Materials Wood Fiberglass 1500 $ 2000 $ 30.00 $ 5.00 $ 45,000.00 10,000.00 Finished Goods 200 $ 125.00 $ 25,000.00 $ 80,000.00 Total Part 11 - Budgeted Income Statement Sales Revenue Less: Cost of Goods Sold = Gross Profit Less: Operating Expenses Variable marketing costs Fixed non-manufacturing costs =Operating Income $ $ $ 500,000.00 397,480.00 102,520.00 $ 7,500.00 $ 30,000.00 $ $ 37,500.00 65,020.00 Current Liabilities Long-Term Liabilities Capital Stock Retained Earnings $ $ $ $ 17,000.00 178,000.00 600,000.00 250,000.00 Total Liabilities & Equity $ 1,045,000.00 Part 12 - Budgeted Balance Sheet Cash Inventory PPE $ $ $ 10,000.00 135,000.00 900,000.00 Total Assets $ 1,045,000.00