LUITUY Homework: Project 2 Score: 10.05 of 50 pts 1 of 1 (1 complete) HW Score: 20.1 % , 10.C VComp24-1 (similar to) EQuestion The Triton Toy Company manufactures toy bulding block sets for children. Triton is planning for 2019 by developing a master budget by quarters. Triton's balance sheet for December 31, 2018, follows m(Click the icon to view the balance sheet.) Other budget data for Triton Toy Company (Clck the icon to view the other data.) Read the requirements Triton Toy Company Manufacturing Overhead Budget For the Year Ended December 31, 2019 First Second Third Fourth Quarter Quarter Quarter Quarter Total VOH cost per set Budgeted VOH Budgeted FOH Depreciation Utlities, insurance, property taxes Total budgeted FOH Rinated mandach rinn muerhaad eel Choose from any list or onter any number in the input fields and then click Check Answe Check Answer Clear All 30 parts. remaining 1 of 1 (1 complete) VComp24-1 (similar to) The Triton Toy Company manufactures toy building block sets for children. Triton is planning for 2019 by developing a master budget by quarters. Triton's balance sheet (Click the icon to view the balance sheet.) Other budget data for Triton Toy Company (Click the icon to view the other data.) Read the requirements. VOH cost per set Budgeted VOH Budgeted FOH Depreciation Utilities, insurance, property taxes Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate Choose from any list or enter any number in the input fields and then click Check Answer. 20.190, 10. Question s toy building block sets for children. Triton is planning for 2019 by developing a master budget by quarters. Triton's balance sheet for December 31, 2018, follows: sheat) pany fi ata.) Production Budget tion Triton Toy Company Production Budget For the Year Ended December 31, 2019 budg First Second Third Fourth repare Quarter Quarter Quarter Quarter Total prepar Budgeted sets to be sold 800 900 1,000 1,100 3,800 270 300 330 360 360 Desired sets in ending inventory Plus: neeted Total sets 1,070 1,460 1,200 1,330 4,160 F 500 270 300 330 500 Sets in beginning inventory Less: 1,030 570 930 1,130 3,660 Budgeted sets to be produced Done Print number in the input fields and then click Check Answer 1 of 1 (1 complete) HW ouilding block sets for children. Triton is planning for 2019 by developing a master budget by quarters. Triton's balance sheet for December t.) i Direct Labor Budget Triton Toy Company Direct Labor Budget For the Year Ended December 31, 2019 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted sets to be produced 1,030 570 930 1,130 3,660 0.30 0.30 Direct labor hours per unit 0.30 0.30 0.30 Direct labor hours needed for production 171 279 309 339 1,098 10 S $ 10 $ 10 S 10 $ Direct labor cost per hour 10 2,790 $ 1,710 $ 3,090 $ 3,390 $ 10,980 Budgeted direct labor cost Print Done ber in the input fields and then click Check Answer. Clear All 1 of 1 (1 complete) i More Info (Unless otherwise noted, assume all of the following events occurred during 2018 and that any balances given ar stated as of December 31, 2018.) Budgeted sales are 800 sets for the first quarter and expected to increase by 100 sets per quarter. Cash sales are expected to be 40% of total sales, with the remaining 60% of sales on account. Sets are budgeted to sell for $80 per set. b. Finished Goods Inventory on December 31, 2018, consists of 500 sets at $31 each. Desired ending Finished Goods Inventory is 30% of the next quarter's sales; first quarter sales for 2020 are expected to be 1,200 sets. FIFO inventory costing method is used. d. Raw Materials Inventory on December 31, 2018, consists of 3,000 pounds. Direct materials requirement is 6 pounds per set. The cost is $1 per pound. Desired ending Raw Materials Inventory is 10% of the next quarter's direct materials needed for production; desired ending inventory for December 31, 2019, is 3,000 pounds; indirect materials are insignificant and not considered for budgeting purposes. f. Each set requires 0.30 hours of direct labor; direct labor costs average $10 per hour. g. Variable manufacturing overhead is $3.00 per set. h. Fixed manufacturing overhead includes $3,500 per quarter in depreciation and $3,088 per quarter for other costs, such as utilities, insurance, and property taxes. i. Fixed selling and administrative expenses include $9,000 per quarter for salaries; $2,400 per quarter for rent; $750 per quarter for insurance; and $500 per quarter for depreciation. j. Variable selling and administrative expenses include supplies at 1% of sales. k. Capital expenditures include $20,000 for new manufacturing equipment, to be purchased and paid for in the first quarter a. C. e. Print Done