I need help with Questions #13-17

ACC 200 - Fall 2019 Written Assignment #9 Due: Tuesday, December 3, 2019 Please print this assignment out and complete manually, or type your answers on this document and then print. Assignments completed on folder paper will not be accepted/graded. Please put answers to each requirement on the blank line provided. In order to get credit for any of the answers, you must provide supporting computations in the space provided. b) 1c) Feathered Friends, Inc., a producer of bird feeders is preparing its budget for December 2019. The budget director has gathered the following data from various managers for use in developing the budgeted income statement for December 2019: a) The Sales Manager estimated sales of 31,000 units in November 2019, 32,500 units in December 2019; and 36,000 units in January 2020. They are expected to be sold for $50 per unit. The Production Manager anticipates having 3,250 bird feeders on hand at December 1. These bird feeders are expected to have cost $22 per unit to produce. His production plan for December is to produce enough to have a desired inventory equal to 10% of the following month's budgeted sales. The bird feeders are made with wood. Each bird feeder requires 0.80 feet of wood. Each foot of wood is expected to cost $6.00. The Purchasing Manager expected to have 500 feet of wood on hand on December 1 and would like to have 600 feet on hand on December 31. The Production Manager notified the Human Resource Manager that each bird feeder requires 0.4 direct labor hours to produce. The Human Resource Manager indicates that the average hourly pay rate is $15 per hour. The Production Manager estimates the variable overhead costs are $7.00 per direct labor hour. Fixed overhead costs consist of $60,000 of depreciation expense and $200,000 of other overhead items (salaries, rent, utilities, insurance, etc.). Based on the annual budget, the predetermined overhead rate (for total overhead) is $27 per direct labor hour h) Selling and administrative expenses, including $50,000 of depreciation expense are expected to be $500,000 for December. The Sales Manager estimates that(30% of total sales are cash sales with the remainder on account. The Accounting Manager estimates that 20% of credit sales are collected in the month of sale with the remaining 80% collected in the month following sale. k) Material purchases, direct labor, factory overhead and selling and administrative expenses are paid for in the month incurred The Accounting Manager expects that the cash balance on December 1 will be $400,000 JA 6 = = = Requirements: 1) Using item a), the budgeted Sales Revenue for December 071400(450) - $1,625,000 venue for December is: $ 1,025,000 2) Using items a) and b), calculate the budgeted production for December: 32050 units Budgeted units to be sold (Dec.): 32,500 Durired ending inventory: 107(.000) - 0,00 unts needed: 3,100 Deg Inventory 0,2500 units to DV, 100 -3,240 = 02,850 Produce 3) Using items c) and d) and your answer to requirement 2, calculate the budgeted feet of wood that must be purchased in December: 20,000 budgute umie to be produced 32,800 _feet Direct material & Perunt..8. tota motenais needed for production:-8 (02,850 -20.280 Desired endura matenars inventory: 100 fuia material needed. 20,280 + VDD = 20.000 budgeted Purchase of materials: 20080-700 - 26,300 Bedienior to Using item c) and your answer to requirement 3, calculate the budgeted cost of wood purchases for December: $ 196,200 0084 per ft. of wood :$6 budgeted cost of purchased maten alt: 1(210,780 158.200 4) 5) Using item e) and your answer to requirement 2, calculate the budgeted direct labor hours required for December: 10,140 Duda. Um 18 to be produced 02,870 DLHV per unit :.4 DLH needed for production: 18.140 DLH 6) Using item e) and your answer to requirement 5, calculate the budgeted direct labor costs for December: $ 111,100 cost per direct lavor how $15 Budgeted DLH cost $15 (13, 140) Sitem) and your answer to requirement 5, calculate the budgeted variable overhead costs for December $ 299,90 budgeted white to be produced. 92,500 VOH 608t per unit 7 Dudgerea VOH:7002,850) - 299,950 Using item f), calculate the budgeted fixed overhead costs for December $_2600,000 Depreciation: $60,000 Other FOH $200,000 Total Budgeted foH 60.000 + 200,000:200,000 Using items c), e) and g) calculate the average budgeted cost of producing one birdhouse in December $ 21.6 DM (.8) (6) = 4.8 DL: (-4) (15)-V MOH (4) (27):108 $ 21.6 10) Using items a), b) and your answer to requirement 9, calculate the budgeted Cost of Goods Sold for December assuming units in beginning inventory are sold before any units produced in the current period (FIFO): $_ Bea finished goods in: 3250 (50) = 162,500 units produced and sold in Dec. Cost: 21.6 11) Using item h) and your answer to requirements 1 and 10, calculate the budgeted Net Income for December: $ os 12) Using item i) and your answer to requirement 1, calculate the budgeted cash sales for December: $ 401,500 total sales for Dec. $50 (32,500) = 1,625.000 % cash sales to total sales: 304" budgeted cash sales: $1625000 (.90)- $487.500