Prepare the following budgets for March 202X:

G dent x (123 (123 X (124 X B Broc X B Con X B K_Sa X G The X G K Sa X G K Sa X C Hor X Sear X * Hon X X C Ims.brocku.ca/access/content/attachment/0b71d355-7447-46a7-954f-5fcd6d865867/Announcements/00231a77-65a5-426b-ba0d-4931eb0a9d21/K_Sailing.pdf G ! Unit cost data for direct-cost inputs pertaining to February 202X and March 202X are: February March Fabric Sail (per sq. Foot) $ 18 $ 20 Kevlar Sail (per sq. Foot) $ 23 $ 25 Plastic Floaters (per unit) $ 11 $ 12 Carbon Floaters (per unit) $ 17 $ 18 Direct Manuf. Labor Cos per Hour $ 30 $ 30 Manufacturing overhead (both variable and fixed) is allocated to each catamaran on the basis of budgeted direct manufacturing labor-hours per week. The budgeted variable manufacturing overhead for March 202X is $ 148,750 and, the budgeted fixed manufacturing overhead for March 202X is $ 42,500. We will allocate both overheads on a per direct manufacturing labor hour basis. Both variable and fixed manufacturing overhead cost are allocated to each unit of finished goods. Data relating to finished goods inventory for March 202X are: Standard Tornado Beginning inventory in units 20 5 Beginning inventory in dollars (cost) $ 10,480 $ 4,850 Type here to search O Fi W 20 ~ 0 127 1) ENG 3:05 PM 2020-06-07G dent x (123 (123 X (124 X B Broc X B Con X B K_Sa X G The X G K Sa X G K Sa X C Hor X Sear X * Hon X X C Ims.brocku.ca/access/content/attachment/0b71d355-7447-46a7-954f-5fcd6d865867/Announcements/00231a77-65a5-426b-ba0d-4931eb0a9d21/K_Sailing.pdf G ! overheads on a per direct manufacturing labor hour basis. Both variable and fixed manufacturing overhead cost are allocated to each unit of finished goods. Data relating to finished goods inventory for March 202X are: Standard Tornado Beginning inventory in units 20 5 Beginning inventory in dollars (cost) $ 10,480 $ 4,850 Target ending inventory in units 30 15 Operating expenses of the month of March 202X are budgeted to be: $ 65,000, allocated based on number of units sold. Budgeted sales are 740 units of the Standard line and 390 units of the Tornado line. The budgeted selling prices per unit in March 202X are $ 1,020 for the Standard line catamarans and $ 1,600 for the Tornado line. Assume the following in your answer: Work in process inventories are negligible and ignored. Direct materials inventory and finished goods inventories are costed using the FIFO method. Unit cost of direct materials purchased and finished goods are constant in March 202X. Prepare the following budgets for March 202X: a. Revenues budget b. Production budgets in units c. Direct materials usage Budget and purchases Budget d. Direct manufacturing labor Budget e. Manufacturing overhead Budget f. Ending inventory Budget (direct materials and finished goods) g. Cost of goods sold Budget. h. P&L Budget (Budgeted Income Statement) with available info. Type here to search O S em W 20 ~ 0 127 1) ENG 3:05 PM 2020-06-07G dent x (123 (123 X (124 X B Broc X B Con X B K_Sa X G The X G K Sa X G KSa X C Hor X Sear X * Hon X X C Ims.brocku.ca/access/content/attachment/0b71d355-7447-46a7-954f-5fcd6d865867/Announcements/00231a77-65a5-426b-ba0d-4931eb0a9d21/K_Sailing.pdf G ! K Sailing is a producer of catamarans. It makes two types of boats: Standard: 16 feet Tornado: 25 feet. The Budget direct cost inputs for each product in 202X are: Standard Tornado Fabric Sail 16 feet 0 Kevlar Sail 0 25 feet Plastic Floaters 4 units 0 Carbon floaters 0 4 units Direct Manuf. Labor 3 hours 5 hours Unit data pertaining to the direct materials for March 202X are: Actual Beginning Direct Materials Inventory (1/3/202X) Standard Tornado Fabric Sail 320 0 Kevlar Sail 0 350 Plastic Floaters 100 0 Carbon floaters 0 40 Target Ending Direct Materials Inventory (31/3/202X) Standard Tornado Fabric Sail 192 0 Kevlar Sail 0 200 Plastic Floaters 80 0 Carbon floaters 0 44 Type here to search O W 20 ~ 0 127 1) ENG 3:05 PM 2020-06-07