on to view the direct materials inventories) on to view the additi Data table in process in your calculations. Read the requirements Prepare the Januar Materials and Labor Requirements Direct materials Revenue Bu For January Wood Fiberglass 12 board feet (b.f.) per snowboard 10 yards per snowboard Units Selling Direct manufacturing labor 6 hours per snowboard Prepare the Januar Production Bu sales For January 2 mg finished goods inventory 700 Print Done - X My dad to prepare budgets for January 2021: icon to view the materials and labor requirements) icon to view the additional information.) icon to view the direct materials inventories) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $300.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Read the requirements e icon to More info t1. Prep Uni Snowmass's CEO expects to sell 3,100 snowboards during January 2021 at an estimated retail price of $850 per board. Further, the CEO expects 2021 beginning inventory of 600 snowboards and would like to end January 2021 with 700 snowboards in stock. t2. Prep Production Budget For January 2021 its sales nding finished goods inventory 3,100 10 8 700 Print Done ew by 2 Week SAT 14 21 (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view th December 31, 2020, is $300.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Read the requirements equirement 1. Prepare th Data table Reve For J Wood Units Fiberglass Snowboards equirement 2. Prepare th Produc For Ja Budgeted units sales Add target ending finished goods inventory Total required units 700 Direct Materials Inventories Beginning Inventory January 1, 2021 Ending Inventory January 31, 2021 2,050 b.f. 1,050 yards Print Done 1,550 b.f. 2,050 yards X on to view the direct materials inventories) DART Gfect materials and finished goods. Ignore work in process in your calculations. Read the requirements on to Prep Uni Prepa P sales More info Variable manufacturing overhead is $15 per direct manufacturing labor-hour. There are also $19,200 in fixed manufacturing overhead costs budgeted for January 2021. Snowmass combines both variable and fixed manufacturing overhead into a single rate based on direct manufacturing labor-hours. Variable marketing costs are allocated at the rate of $300 per sales visit. The marketing plan calls for 39 sales visits during January 2021. Finally, there are $36,000 in fixed operating (nonmanufacturing) costs budgeted for January 2021. ng finished goods inventory 3,100 700 Print Done - X icon to view the additional information.) icon to view the direct materials inventories) icon to view the inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Read the requirements Data table 2020 Unit Price 2021 Unit Price 1. Prepare the Ja Revenu For Janu 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 Units Se 2. Prepare the Ja Production its sales For Janua 3,100 Print Done - X Showmass, Inc., manufactures and sells snowboards. Snowmass manufactures a single model, the Pipex. In late 2020, Snowmass's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) Other data include: (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $300.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignore wa in process in your calculations. Read the requirements. Requirement 1. Prepare the January 2021 revenues budget (in dollars). Revenue Budget For January 2021 Units Selling price Total revenues Snowboards Requirement 2. Prepare the January 2021 production budget (in units). Production Budget For January 2021 Budgeted units sales 3,100 700 Add target ending finished goods inventory Total required units Deduct beginning finished goods inventory 600 12 Snowmass, Inc., manufactures and sells snowboards. Snowmass manufactures a single model, the Pipex. In late 2020, Snowmass's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories). (Click the icon to view the additional information.) Other data include: (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $300.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignore wom in process in your calculations. Read the requirements. Units of finished goods to be produced Requirement 3. Prepare the direct material usage and purchases budgets for January 2021. Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budget. Direct Material Usage Budget in Quantity and Dollars Physical Units Budget Direct materials required for Snowboards For January 2021 Cost Budget Available from beginning direct materials inventory Material Wood Fiberglass Total b.f. yds Bes Snowmass, Inc., manufactures and sells snowboards. Snowmass manufactures a single model, the Pipex. In late 2020, Snowmass's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) Other data include: Click the loon to view the other data.) The inventoriable unit cost for ending finished goods invento December 31, 2020, is $300.00. Assume Snowmass uses a inventory method for both direct materials and finished good in process in your calculations. Read the requirements. Available from beginning direct materials inventory (under a FIFO cost-flow assumption)) Wood Fiberglass To be purchased this period i Wood Fiberglass Direct materials to be used this period : Now prepare the direct material purchases budget for January 2021. Direct Materials Purchases Budget For January 2021 Materials Snowmass, Inc., manufactures and sells snowboards. Snowmass manufactures a single model, the Pipex. In late 2020, Snowmass's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) Other data include: Click the icon to view the other data.) The inventoriable unit cost for ending finished goods i December 31, 2020, is $300.00. Assume Snowmass inventory method for both direct materials and finished in process in your calculations. Read the requirements. Wood Fiberglass Total Physical Units Budget To be used in production b.f. yards Add target ending inventory 1,550 2,050 b.f. yards Total requirement b.f. yards Deduct beginning inventory 2,050 b.f. 1,050 yards Purchases to be made b.f. yards Cost Budget Purchases Requirement 4. Prepare a direct manufacturing labor budget for January 2021. (Abbreviation used: DMLH Direct manufacturing labor hours.) Direct Manufacturing Labor Costs Budget aining: OF single model, the Pipex. In late 2020, Snowmass's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory December 31, 2020, is $300.00. Assume Snowmass uses a F inventory method for both direct materials and finished goods, in process in your calculations. Read the requirements. Snowboards For January 2021 Output Units DMLH Total Hourly Produced per Unit Hours Wage Rate Total 6 Requirement 5. Prepare a manufacturing overhead budget for January 2021. Begin the manufacturing overhead cost budgets by first determining the formula, then calculate the variable manufacturing overhead costs. (Abbreviation um Manuf. Manufacturing.) Variable manufacturing overhead costs Now prepare the manufacturing overhead cost budgets. Manufacturing Overhead Budget For January 2021 Snowmass, Inc., manufactures and sells snowboards. Snowmass manufactures a single model, the Pipex. In late 2020, Snowmass's management accountant gathered the following data to prepare budgets for January 2021: EEE (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) Other data include: (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $300.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignore in process in your calculations. Read the requirements. Variable manufacturing overhead costs Fixed manufacturing overhead costs Total Requirement 6. What is the budgeted manufacturing overhead rate for January 2021? Begin by determining the formula, then enter the appropriate amounts to calculate the budgeted manufacturing overhead rate for January 2021. (Abbreviation use Manuf. Manufacturing. Round the overhead rate to the nearest cent.) = Budgeted manufacturing overhead rate Requirement 7. What is the budgeted manufacturing overhead cost per output unit in January 2021? Begin by determining the formula, then enter the appropriate amounts to calculate the budgeted manufacturing overhead cost per output unit in January 2021. (Abbreviation used: Manuf. Manufacturing. Round the overhead cost per output unit to the nearest cent.) Budgeted manufacturing overhead Snowmass, Inc., manufactures and sells snowboards. Snowmass manufactures a single model, the Pipex. In late 2020, Snowmass's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) Other data include: (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $300.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Read the requirements. Unit Costs of Manufacturing Finished Goods For January 2021 Cost per unit Input per unit of input of output Total Direct materials Wood Fiberglass Direct manufacturing labor Budgeted manufacturing overhead cost Total 12 b.f. 10 yds. 6 hrs. ventory budget for both direct materials and finished goods for January 2021. (Round your answers to the nearest whole Snowmass, Inc., manufactures and sells snowboards. Snowmass manufactures a single model, the Pipex. In late 2020, Snowmass's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.). Other data include: (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $300.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods, Ignore work in process in your calculations. Read the requirements dollar.) Ending Inventories Budget For January 2021 Quantity Cost per unit Total Direct materials Wood Fiberglass 1,550 2,050 Finished goods Snowboard Total ending inventory 700 Requirement 10. Prepare a cost of goods sold budget for January 2021. O you are your Snowmass, Inc., manufactures and sells snowboards. Snowmass manufactures a single model, the Pipex. In late 2020, Snowmass's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) Other data include: (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $300.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Read the requirements. COSE OF GOODS SUIU Duuget For January 2021 Beginning finished goods inventory, January 1 Direct materials used Direct manufacturing labor Manufacturing overhead Cost of goods manufactured Cost of goods available for sale Deduct ending finished goods inventory, January 31 Cost of goods sold Requirement 11. Prepare the budgeted operating income statement for Snowmass, Inc., for January 2021. Budgeted Operating Income Statement Wss manufactures a single model, the Pipex. In late 2020, Snowmass's management accountant gathered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) Other data include: (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $300.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignos in process in your calculations. Read the requirements Budgeted Operating Income Statement For January 2021 Revenues Cost of goods sold Gross margin Operating (nonmanufacturing) costs Operating income Requirement 12. What questions might the CEO ask the management team when reviewing the budget? Should the CEO set stretch targets? Explain briefly. First, select the questions that the CEO might ask the marketing manager. (Select all that apply.) owmass, Inc., manufactures and sells snowboards. Snowmass manufactures a gle model, the Pipex. In late 2020, Snowmass's management accountant thered the following data to prepare budgets for January 2021: (Click the icon to view the materials and labor requirements) (Click the icon to view the additional information.) (Click the icon to view the direct materials inventories) (Click the icon to view the additional information.) Other data include: point(s) possible (Click the icon to view the other data.) The inventoriable unit cost for ending finished goods inventory on December 31, 2020, is $300.00. Assume Snowmass uses a FIFO inventory method for both direct materials and finished goods. Ignore in process in your calculations. Read the requirements. ow, select the questions that the CEO might ask the production manager. (Select all that apply.) Should the CEO set stretch targets? Explain briefly. The CEO because: (Select all that apply.) Requirement 13. How does preparing the budget help Snowmass' management team better manage the company? Preparing a budget helps Snowmass, Inc.: (Select all that apply.)