need help with this budget please

Management expects that it will taka 25 hours of direct labor to manufacture each boat. Direct labor is billed at $20/hour. 5 Sundancer, Inc. Direct Labor Budget For the Year Ended December 31, 2021 7 Units to be produced 9 Direct labor time (hours) per unit 10 Total required direct labor hours B1 Direct labor cost per hour 2 Total direct labor cost + Manufacturing Overhead applied to the bonts is related to machine hours used. It will take 100 machine hours per boat and the cost is $/hour. 85 Sundancer, Inc. Manufacturing Overhead Budget For the Year Ended December 31, 2021 30 Units to be produced 01 Machine hours per unit 32 Total required machine hours 33 Machine cost per hour 94 Total manufacturing overhead 35 96 Management also anticipates the following fixed costs. These have increased slightly from 2020. 57 Building and Equipment Depreciation $60,000 9 Company Insurance $17,000 100 Company Advertising $123,000 101 Selling and Administrative Salaries and Benefits $330,000 100 10) 104 Sundancer, Inc 105 Selling and Administrative Expense Budget 100 For the Year Ended December 31, 2021 101 10 Fixed expenses 103 Building and Equipment Depreciation 110 Company Insurance 111 Company Advertising 112 Selling and administrative salaries and benefits Total selling and administrative expenses 114 Plastic Parts Direct materials: 1 Metal Parts Direct materials: 2 Paint and Stickers Direct materials: VUOVUTI 400 $ 2.00 500 $ 0.50 10 $ 5.00 800 1,000 20 4,000 5,000 100 4 5 6 2 12 Sundancer, Inc. Direct Materials Budget For the Year Ended December 31, 2021 Required production units - Plastic Parts Direct materials pounds per unit produced: Total pounds needed for production - Add: Desired ending direct materials in pounds (ending balance 2021) 2 Total materials required - Less: Beginning direct materials in pounds (ending balance 2020) Direct materials purchases Cost per pound 6 Total cost of Plastic Parts direct materials purchases 8 Required production units - Metal Parts Direct materiais pounds per unit produced: Total pounds needed for production - Add: Desired ending direct materials in pounds (ending balance 2021) 2 Total materials required -3 Less: Beginning direct materials in pounds (ending balance 2020) Direct materials purchases 5 Cost per pound 6 Total cost of Metal Parts direct materials purchases - Required production units 9 Paint and Stickers Direct materials pounds por unit produced: * Total pounds needed for production Add: Desired ending direct materials in pounds (ending balance 2021) 2 Total materials required 3 Less: Beginning direct materials in pounds (ending balance 2020) Direct materials purchases 5 Cost per pound 6 Total cost of Paint and Stickers direct materials purchases + 7 57 M D E G H Sundancer Boats, Inc. manufactures paddle boats in various colors for 5-Star Resorts. Management is preparing the budget 2021 and has asked for the accountants help. Sales in 2020 were 500 units. They are bringing on a new customer and management is expecting a 35% Increase in 2021. They will increase the selling price to $3,500 this year to account for anticipated rising costs. 5 Sundancer, Inc. 3 Sales Budget For the Year Ended December 31, 2021 30 Expected sales units 1 Unit selling price 12 Total sales 13 14 At the end of 2020, there were no boats left in Inventory to sell in 2021. Management would like to start 2022 with Inventory on hand. They would 15 like to budget to end 2021 with 25 completed and finished units. 16 Sundancer, Inc. 10 Production Budget For the Year Ended December 31, 2021 20 21 Expected sales units 22 Add: Desired ending finished goods units (ending balance 2021) 21 Total required units 24 Loss Beginning finished goods units (ending balance 2020) 25 Required production units 26 Management expects to end 2020 with some direct materials, They want to make sure that at the end of 2021, they have enough direct materials on a hand to start production right away in 2022. Pounds Expected 2021 Ending Balance Ending Balance Per Unit Cost/Pound 2020 2021 DO Plastic Parts Direct materials: 400 5 2.00 300 31 Metal Parts Direct materials: 500 $ 0.50 1,000 5,000 Paint and Stickers Direct materials: 10 5 5,00 20 100 4,000 Sundancer, Inc Direct Materials Budget For the Year Ended December 31, 2021 Requited production units Plastic Parts Direct materials pounds per unit produced Tudose ACCTG 23 Formulas Data Review View 12 A A 5 Wrap Tex Homo Insert Page Layout X Cut Arial Paste T U Format H33 Ax v fe 1 D E F 94 & A Mergo & G Management se anticipates the following fixed costs, some anticipated changes from last year Building and Equipment Depreciation Company insurance Company Advertising Selling and Administrative Salaries and benefits 350.000 51.000 $150,000 $350.000 Sundancer, Inc Selling and Administrative Expense Budget For the Year Ended December 31, 2022 10 11 Feed expenses 12 Building and Equipment Depreciation Company laurence 14 Company Advertising 05 Selling and administrative salaries and benefits 16 Total selling and strative penses Management had to borrow some money from the bank to start a business five years ago. As a result, they still have some rest expenses $10,000 To per year. Management as a 21 tax rate for 2002 110 Sundance, le 123 Budget Income Stament For the Year Ended December 21, 2022 IN cout of goods sold 127 Gross profil Selling and drive me come from operas 11 Interest expense l income before income 13 Income tax expense 131 Net Income IN Suppleren schedule COGS Couto per Cool that 1 Plastic Parts Direct materiale Metal Parts Direct materials Pain and chars Direct Director Mansure everhead machine hours HET COB Bado por Ull Lintas Ta QUM pounds pounds hour her Budget Reflection - 5 Points Write A short reflection about the changes from the 2021 Budget and how these compare to 2021 Actual results to create the 2021 income Statemem. Write a short statement of what had to be changed in the 2022 Master Budget to help the business work towards being profitable