Please solve requirement 4 and show your calculations. Thanks

More Info Data Table Budgeted balances at January 31, 2018 are as follows: Revenue Budget For January 2018 Units Selling price Total revenues 1,300 $ 650 $ 845,000 Cash Variable manufacturing overhead is $8 per direct manufacturing labor-hour. There are also $20,800 in fixed manufacturing overhead costs budgeted for January 2018. Snows 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 $270 per sales visit. The marketing plan calls for 36 sales visits during January 2018. Finally, there are $33,000 in fixed nonmanufacturing costs budgeted for January 2018 ? Snowboards ? ? Direct Materials Purchases Budget For January 2018 Materials $ 852,000 Accounts receivable Inventory Property, plant, and equipment (net) Accounts payable Long-term liabilities Stockholders' equity Print Done ? Wood Total 180,000 Fiberglass Physical Units Budget To be used in production Data Table 11.700 b.f. 9,100 yards 1,520 b.f. 12,000 Selected budgeted information for December 2017 follows: Cash balance, December 31, 2017 $ Budgeted sales Budgeted materials purchases Add target ending inventory Total requirement 13,220 b.f. Materials and Labor Requirements 1,790,000 2.020 b.f. 2,020 yards 11,120 yards 1,020 yards 10,100 yards Deduct beginning inventory Direct materials 680,000 Purchases to be made 11,200 b.f. Wood Cost Budget 9 board feet (b.f.) per snowboard 7 yards per snowboard 8 hours per snowboard Customer invoices are payable within 30 days. From past experience, Snows's accountant projects 35% of invoices will be collected in the month invoiced, and 65% will be collected in the following month. Accounts payable relates only to the purchase of direct materials. Direct materials are purchased on credit with 25% of direct materials purchases paid during the month of the purchase, and 75% paid in the month following purchase. Fiberglass Direct manufacturing labor $ 358,400 $ 70,700 $ 429,100 Purchases Snows' CEO expects to sell 1,300 snowboards during January 2018 at an estimated retail price of $650 per board. Further, the CEO expects 2018 beginning inventory of 600 snowboards and would like to end January 2018 with 600 snowboards in stock. Fixed manufacturing overhead costs include $11,000 of depreciation costs and fixed nonmanufacturing overhead costs include $6,000 of depreciation costs. Direct manufacturing labor and the remaining manufacturing and nonmanufacturing overhead costs are paid monthly Direct Manufacturing Labor Costs Budget For January 2018 Output Units DMLH Total Hourly Produced per Unit Hours Wage Rate 1,300 8 10,400 $ 27 Total Direct Materials Inventories Beginning Inventory 1/1/2018 Ending Inventory 1/31/2018 2,020 b.f. 1,520 b.f. Snowboards $ 280,800 All property, plant, and equipment acquired during January 2018 were purchased on credit and did not entail any outflow of cash. There were no borrowings or repayments with respect to long-term liabilities in January 2018. On December 15, 2017, Snows's board of directors voted to pay a $165,000 dividend to stockholders on January 31, 2018. Wood Total labor hours x Variable manufacturing overhead rate = Variable manufacturing overhead costs Fiberglass 1,020 yards 2,020 yards 10,400 8 $ 83,200 Other data include: Print Done 2017 Unit Price 2018 Unit Price Ending Inventories Budget For January 2018 Quantity Cost per unit Wood $ 30.00 per b.f. $ 32.00 per b.f. Total Fiberglass $ 6.00 per yard $ 7.00 per yard Direct materials Direct manufacturing labor $ 26.00 per hour $ 27.00 per hour Wood 1,520 $ 32 $ 48,640 Fiberglass 2,020 7 14,140 The inventoriable unit cost for ending finished-goods inventory on December 31, 2017, is $250.00. Assume Snows uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. Finished goods Print Done Snowboard 600 $ 633 379,800 $ 442,580 Total ending inventory Requirement 4. Prepare a budgeted balance sheet for January 31, 2018 by calculating the January 31, 2018 balances in (a) cash (b) accounts receivable (c) inventory (d) accounts payable ar Snows, Inc. Budgeted Balance Sheet January 31, 2018 Requirements Assets: Accounts receivable $ 549,250 1. Cash 278,455 Inventory 400580 852,000 Property, plant and equipment 2. 2080285 Prepare a cash budget for January 2018. Show supporting schedules for the calculation of collection of receivables and payments of accounts payable, and for disbursements for fixed manufacturing and nonmanufacturing overhead. Snows is interested in maintaining a minimum cash balance of $160,000 at the end of each month. Will Snows be in a position to pay the $165,000 dividend on January 31? Why do Snows's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Prepare a budgeted balance sheet for January 31, 2018 by calculating the January 31, 2018 balances in (a) cash (b) accounts receivable (c) inventory (d) accounts payable and (e) plugging in the balance for stockholders' equity. Total Liabilities and Stockholders' Equity: Accounts payable 3. 321,825 4. Long term liabilities 180,000 1578460 Stockholders' equity Total 2080285 Print Done