Mpumelelo Traders manufactures and sells snowboards. Mpumelelo Traders manufactures a single model, the Pipex. In the summer of $2022,$ Mpumelelo Trader's management accountant gathered the data below to prepare the budget for $2023.$ She was busy drawing up operational and master budget for the company for the year ending $31$ December $2023.$

She had to urgently go on maternity leave and will be back in six months' time. You have been employed to take over from her and you have to complete the work from where she finished it$.$

Material and labour requirements:

Wood $,5$ metres per snowboard

Fiberglass $6kg$ per snowboard

Direct labour $5$ hours per snow boards

Material and labour prices:

$\backslash$table$[[,2022$ prices per unit,$2023$ prices per unit$],[$Wood$,$R$28\mathrm{.}00$ per metre,R$30\mathrm{.}00$ per metre$],[$Fiberglass$,$R$4\mathrm{.}80$ per kg$,$R$5$ per kg$],[$Direct labourR$24$ per hour,R$2$ per hour,$]]$

Mpumelelo Trader's CEO expects to sell $1000$ snowboards during $2023)$at an estimated price of R$45$ per snowboard. There were $100$ snowboards at the beginning of year $2023$ and the year $2023$ ended with $200$ snowboards in stock.

Direct materials inventories:

The variable manufacturing overhead is R$7$ per direct labour hours.$)$ The budgeted manufacturing overheads for the year $2023$ amounted toR$66000/$ Mpumelelo

Traders combines both variable and fixed manufacturing overheads into single rate based on direct labour hours. The variable marketing costs are allocated at a rate of R$250$ per sales visits$)$ The marketing plan calls for $30$ sales visits during the year

$2023.$ Finally, the fixed non$-$manufacturing costs budget reflected a total amount of R$30000$ for $2023.$

The unit cost for closing finished inventory on $31$ December $2022$ amounted to R$374\mathrm{.}80,$ Assume Mpumelelo Traders uses FIFO inventory method for direct material and finished goods. Ignore the work$-$in$-$process in your calculations

The budgeted balance sheet as of $31$ December $2023$ in selected accounts is as follows:

Cash

Prope R$10000$

Property, plant, and equipment. R$850000$

Current liabilities. $,$ R$17000$

Stockholder's equity. R$800000$

THE FOLLOWING BUDGETS $($FROM a $-$e$)$ FOR THE PERIOD ENDING

$31$ DECEMBER $2023$ HAVE ALREADY BEEN COMPLETED BY THE MANAGEMENT ACCOUNTANT BEFORE GOING ON MATERNITY

A$)$Sales budget

Projected sales units$1000$

Selling price per unit $450$

Sales amount $,450000$

B$)$Production budget

Projected sales units$1000$

Closing inventory $200$

Opening inventory $100$

Production required $1100$

c$)$ Material purchases budget WOOD FIBERGLASS

Material required for production $5500,6600$

Opening inventory $,2000,1000$

Closing inventory $,1500,2000$

Purchases $in$ units $5000,7600$

Cost per unit

$\backslash$table$[[30,5],[150000,38000]]$

d$)$ Direct labour budget

Production units $1100$

Time per unit $5$

Total hours $,5500$

Rate per hour $25$

Labour cost $137500$

Labour cost $,137500$

e$)$ Manufacturing overheads budget

Variable overhead: $,38500$

Fixed overheads: $66000$

Total manufacturing overheads cost$104500$

Required:

As the new management accountant, you are required to complete the following budgets for the year ending $31$

December $2023$:

Budgeted cost per unit

Budgeted statement of comprehensive income

Budgeted statement of financial position