,Inc , manufactures and sells snowboards SkisSkis manufactures a single model, the Pipex In late 20172017, SkisSkis's management accountant gathered the following data to prepare budgets for January 20182018 (Click the icon to view the direct materials inventories) LOADING (Click the icon to view the additional information ) Other data include LOADING (Click the icon to view the other data )The inventoriable unit cost for ending finished goods inventory on December 31, 20172017, is $300 00300 00 Assume SkisSkis uses a FIFO inventory method for both direct materials and finished goods Ignore work in process in your calculations Read the requirements LOADING Materials and Labor Requirements Direct materials Wood 12 board feet (b f ) per snowboard Fiberglass 10 yards per snowboard Direct manufacturing labor 6 hours per snowboard Direct Materials Inventories Beginning Inventory 1 1 2018 Ending Inventory 1 31 2018 Wood 2,050 b f 1,550 b f Fiberglass 1,050 yards 2,050 yards 2017 Unit Price 2018 Unit Price Wood $33 00 per b f $35 00 per b f Fiberglass $9 00 per yard $10 00 per yard Direct manufacturing labor $29 00 per hour $30 00 per hour 1 Prepare the January 20182018 revenues budget (in dollars) 2 Prepare the January 20182018 production budget (in units) 3 Prepare the direct material usage and purchases budgets for January 20182018 4 Prepare a direct manufacturing labor costs budget for January 20182018 5 Prepare a manufacturing overhead costs budget for January 20182018 6 What is the budgeted manufacturing overhead rate for January 20182018 7 What is the budgeted manufacturing overhead cost per output unit in January 20182018 8 Calculate the cost of a snowboard manufactured in January 20182018 9 Prepare an ending inventory budget for both direct materials and finished goods for January 20182018 10 Prepare a cost of goods sold budget for January 20182018 11 Prepare the budgeted income statement for SkisSkis, Inc , for January 20182018 12 What questions might the CEO ask the management team when reviewing the budget Should the CEO set stretch targets Explain briefly 13 How does preparing the budget help SkisSkis's management team better manage the company

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,Inc., manufactures and sells snowboards. SkisSkis manufactures a single model, the Pipex. In late 20172017, SkisSkis's management accountant gathered the following data to prepare budgets

,Inc., manufactures and sells snowboards. SkisSkis manufactures a single model, the Pipex. In late 20172017, SkisSkis's management accountant gathered the following data to prepare budgets for January

20182018:

...

(Click the icon to view the direct materials inventories)

(Click the icon to view the additional information.)

Other data include:

LOADING..(Click the icon to view the other data.)The inventoriable unit cost for ending finished goods inventory on December 31,

20172017,

$300.00300.00.

Assume

SkisSkis

uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations.Read the requirements

Materials and Labor Requirements
Direct materials
Wood	12	board feet (b.f.) per snowboard
Fiberglass	10	yards per snowboard
Direct manufacturing labor	6	hours per snowboard

Direct Materials Inventories Beginning Inventory 1/1/2018 Ending Inventory 1/31/2018

Wood 2,050 b.f. 1,550 b.f. Fiberglass 1,050 yards 2,050 yards

	2017 Unit Price		2018 Unit Price
Wood	$33.00	per b.f.	$35.00	per b.f.
Fiberglass	$9.00	per yard	$10.00	per yard
Direct manufacturing labor	$29.00	per hour	$30.00	per hour

1.	Prepare the January 20182018 revenues budget (in dollars).
2.	Prepare the January 20182018 production budget (in units).
3.	Prepare the direct material usage and purchases budgets for January 20182018.
4.	Prepare a direct manufacturing labor costs budget for January 20182018.
5.	Prepare a manufacturing overhead costs budget for January 20182018.
6.	What is the budgeted manufacturing overhead rate for January 20182018?
7.	What is the budgeted manufacturing overhead cost per output unit in January 20182018?
8.	Calculate the cost of a snowboard manufactured in January 20182018.
9.	Prepare an ending inventory budget for both direct materials and finished goods for January 20182018.
10.	Prepare a cost of goods sold budget for January 20182018.
11.	Prepare the budgeted income statement for SkisSkis, Inc., for January 20182018.
12.	What questions might the CEO ask the management team when reviewing the budget? Should the CEO set stretch targets? Explain briefly.
13.	How does preparing the budget help SkisSkis's management team better manage the company?